With the appearance of deviations in the daily chart between the CAD/JPY price movement forming a higher high while the Momentum indicator forms a higher low plus the Uptrendline being broken and going through, it is confirmed that CAD/JPY is currently being dominated by sellers, although a strengthening correction could occur, but as long as the strengthening correction does not breaks above the 118.82 level, CAD/JPY has the opportunity to continue its weakening back to the 104.48 level and will continue to weaken to the 100.54 level if the momentum and volatility support it.
(Disclaimer)