The CAD/JPY currency pair has resumed its downward trajectory, falling below the 50% Fibonacci correction level at 106.45. This movement suggests a continuation of the bearish trend, with the next potential support level at 105.48.
The stochastic indicator reinforces this negative outlook, as it moves towards the oversold territory, indicating further downward pressure. The price is expected to target subsequent support levels at 104.75 and 103.95.
Today’s anticipated trading range is between 104.75 and 106.10.
Trend Forecast: Bearish
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