CAD/JPY Consolidation: Buyers Face Bearish Pressure Ahead

The CAD/JPY currency pair is trading at ¥111.65, having gained a modest 0.52% in value over the past day.

Despite this short-term strength, the pair remains below its medium- and long-term moving averages, indicating a bearish trend.

The Ichimoku Kijun line acts as immediate support at ¥111.39, but the overall momentum indicators are mixed, with some tools signaling further downside while others point to consolidation.

Traders should be cautious of renewed selling pressure below this support level, which could push the pair below its current range.