CAD/JPY Slides Below Key Moving Averages Amid Persistent Selling Pressure

The Canadian Dollar versus Japanese Yen (CAD/JPY) currency pair has been experiencing persistent technical selling pressure, causing it to trade below its key moving averages across all timeframes.

The CAD/JPY currently stands at ¥112.8 and is showing strongly oversold signals in momentum indicators, which may constrain further downside in the near term.

According to traders' analysis, the pair remains under broad selling pressure as it trades below its 20-day, 50-day, and 200-day moving averages at ¥114.83, ¥114.69, and ¥114.83 respectively.

The nearest technical ceiling stands at ¥113.13, with support at ¥112.59, while the Ichimoku Kijun at ¥113.69 confirms the bearish medium- to long-term trend.