The CADJPY currency pair remains under bearish pressure, consistently trading below the 61.8% Fibonacci retracement level at 103.55. This level continues to act as a key resistance, with the pair holding steady near the 101.50 mark, reflecting ongoing losses.
Key technical indicators confirm the negative momentum, with the Relative Strength Index (RSI) nearing a reading of 20, further supporting the likelihood of continued declines. As a result, further downside is expected, with potential targets at 100.40 and the 78.1% Fibonacci support level near 99.45.
The expected trading range for today is between 100.40 and 102.40.
Trend Forecast: Bearish
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