CAD/JPY Slumps Amid Aggressive Yen Intervention

The Canadian Dollar against Yen (CAD/JPY) has been experiencing a persistent bearish trend, with prices dropping below key moving averages. The pair is currently trading at ¥111.63, down 1.02% on the day and nearing session lows.

Japanese authorities have been intervening in the currency markets to stabilize the yen, which had reached multi-decade lows. This has led to a rapid unwinding of yen carry trades and increased volatility across major yen pairs.

The technical signals for CAD/JPY are firmly negative, with oversold conditions highlighted by RSI, Stochastic RSI, and CCI. The pair's price is expected to consolidate within the ¥110.88-¥112.7 band over the next 2-3 days.