CAD/JPY Dives Below Key Moving Averages Amidst Sustained Selling Pressure

The Canadian Dollar vs Japanese Yen (CAD/JPY) has declined by 0.5% today due to persistent technical selling pressure, which has driven the pair below its short, medium, and long-term moving averages.

The current price of CAD/JPY is ¥110.6, down from ¥113.97 in terms of the 20-day moving average, ¥114.35 for the 50-day moving average, and ¥114.78 for the 200-day moving average.

Momentum indicators such as the RSI (31.73), CCI (-125.88), Bull/Bear Power (-0.99), and Awesome Oscillator support continued downside momentum, suggesting that sellers are dominating intraday action.

The expected 5-day range is ¥110 to ¥112.17, with a 77% probability of a downward move and key support at ¥110.78.