CAD/JPY has reached its previous support on monthly basis and near to its previous support on weekly chart from there it has retraced to higher levels and again started downtrend. Recent days CAD got weaker against all its major counterparts due to various reasons like subdued economic growth, NAFTA, low inflation, ciorection in crude oil prices and trade war fears etc. I expect some retracement to higher levels after these concerns fade away.
TECHNICAL TOOLS: BOLLINGER BANDS, ICHIMOKU CLOUD, TVS, RSI
CHARTS: WEEKLY CHART AND MONTHLY CHART
BOLLINGER BANDS: CAD/JPY is at lower end BB is in expansion mode so it will consolidate for more time.
ICHIMOKU CLOUD: Uptrend may continue.
TVS: It is at negative levels.
RSI: It is at oversold border.
WEEKLY CHART: CAD/JPY is in downtrend after consolidation and it is probable that it will touch its lower support.
MONTHLY CHART: It may touch its lower support again. After that it may see some recovery.