The CADJPY currency pair has maintained its downward trajectory, remaining below the key resistance level at 110.35. This decline has been supported by the negative momentum indicated by the stochastic oscillator, leading to the formation of new bearish movements that have taken the pair below 109.40.
The persistence of these negative pressures suggests a likelihood of further bearish attempts, with focus on key support levels, commencing at 108.55 and extending to 107.90.
For the current trading day, it is anticipated that the CADJPY will fluctuate within a range, with an upper boundary at 109.50 and a lower boundary at 108.55.
Today’s overall trend is expected to be bearish.