CAD/JPY Breaks Key Trendline as Bearish Signals Dominate

The Canadian Dollar against the Yen (CAD/JPY) is trading at ¥111.17, marking a modest decline for the session. The pair has broken below its long-term ascending trendline from last November's lows, entering the 110.50-112.00 support zone.

This breach of a well-established technical floor signals a structural shift in trend influencing market flows and positioning. Bearish technical signals dominate, with the pair expected to fluctuate between ¥110.61 and ¥111.73, and further downside favored if support fails.

Momentum indicators continue to reflect bearish sentiment, with RSI at 39.7, CCI and MACD both on sell signals, and Bull/Bear Power registering negative values. The current technical setup builds on this view by highlighting the recent break below a long-term trendline, making the ¥110.61 support level a critical threshold to watch for renewed downside risk.