CAD/JPY Extends Decline on Technical Selling Pressure

The Canadian Dollar (CAD) versus Japanese Yen (JPY) exchange rate has continued its decline, driven by persistent technical selling pressure. The CAD/JPY pair is trading below all major moving averages, with intraday action capped by nearby resistance levels.

According to traders' analysis, the bearish momentum dominates as MACD, ADX, and the Awesome Oscillator confirm a prevailing downside trend. This has led to a prediction that the pair will trade in a ¥109.84 to ¥111.19 range over the next five days, with a 74% probability of further decline.

Despite some divergence from Stochastic RSI and HMA, momentum signals mostly align with the negative daily performance. The analysis emphasizes that traders should closely monitor the ¥109.84 support as a decisive level for renewed bearish momentum or potential stabilization.