0201 GMT - The Canadian dollar may enter another downtrend against the yen, based on the daily chart, Oanda's Kelvin Wong says in an email. The recent corrective rebound of CAD/JPY from the March 11 low may have reached a terminal point on March 26, as the currency pair's price movements shaped a bearish candlestick pattern, the senior market analyst says. Also, the daily relative strength index indicator has signaled a bearish momentum condition, which underpins the beginning of a possible downtrend, Wong says. Any break of the currency pair below support at 101.80 exposes subsequent medium-term support levels at 99.60 and 97.55, the analyst adds. CAD/JPY slips 1.1% to 103.69. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
April 02, 2025 22:01 ET (02:01 GMT)
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