CAD/JPY Signal Today 02/09: Weakens Amid Recovery (Video)

CAD/JPY weakens amid recovery

The Canadian dollar weakened against the Japanese yen on Monday, as the yen recovered from last week's sharp losses.

The USD/CAD pair rose to a high of 1.4638, up from a low of 1.4532.

The CAD/JPY pair fell to a low of 99.73, down from a high of 100.26.

CAD/JPY signal today 02/09

• **Sell** CAD/JPY below 99.70
• **Take profit** at 99.50
• **Stop loss** at 100.00

The CAD/JPY pair is expected to weaken further in the coming days, as the yen continues to recover.

CAD/JPY forecast

The CAD/JPY pair is forecast to weaken to a low of 99.00 in the coming weeks.

The pair is then expected to rebound to a high of 101.00 in the coming months.

CAD/JPY analysis

The CAD/JPY pair has been in a downtrend since the beginning of the year.

The pair has been trading below its 200-day moving average for the past month.

The pair is currently trading below its 50-day moving average.

The pair is also trading below its 20-day moving average.

CAD/JPY conclusion

The CAD/JPY pair is expected to continue to weaken in the coming days and weeks.

The pair is expected to rebound in the coming months.