CAD/JPY Rebound Fades as Bearish Momentum Persists

The Canadian Dollar vs Japanese Yen (CAD/JPY) has made a modest rebound in recent trading sessions, but its upward momentum remains limited. The pair is still trading below its key moving averages, including the 20-day, 50-day, and 200-day moving averages, which signals sustained bearish pressure across multiple time frames.

The current price of CAD/JPY is ¥111.47, with a very high probability of further downside movement according to technical indicators. The projected five-day range is ¥110.8 to ¥112.31, with the pair currently trading near its intraday high at ¥111.65 and support at the low of ¥110.96.

The momentum indicators are uniformly negative, highlighting ongoing selling pressure. The MACD and ADX indicate a strong bearish trend, while the RSI, Stochastic RSI, and CCI all place the pair in oversold territory.