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)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.