The Canadian dollar hasn’t been able to rally on any kind of news lately and that speaks to its precarious position.
CAD/JPY has fallen 40 pips since the latest headlines broke and the pair is threatening a bearish outside reversal. I wouldn’t normally focus on the reversal because the candles are smallish relative to the recent moves but it comes in the context of the recent downtrend and will be a close below the 200-day moving average. The 100dma and 55dma are also on course for bearish crossovers below the 200dma in the days ahead.
