CAD/JPY Bears Run Amok as Downward Pressure Mounts

The Canadian Dollar versus Japanese Yen (CAD/JPY) has continued its downward trend as persistent selling pressure and sustained bearish momentum dominate trading. The pair remains below its 20, 50, and 200-day moving averages, reinforcing the bearish tone.

According to technical indicators, the CAD/JPY is nearing oversold territory with a relative strength index (RSI) of 36.23 and a commodity channel index (CCI) at -55.28. The MACD suggests a strong sell signal, while the ADX also indicates ongoing downside momentum.

The expected five-day trading range is ¥110 to ¥111.69, with a greater than 80% probability of further declines and minimal risk of a reversal. The near-term ceiling for the pair stands at ¥110.99, with support expected near ¥110.