CAD/JPY Bearish Rejection Signals Potential Drop Toward 114.08CAD/JPYOANDA:CADJPYTrade_ActionTechnical Outlook Resistance: 115.85–115.95 (major supply zone) Current Price: ~115.68 Immediate Support: 115.55 Next Support Targets: 115.20 → 114.78 → 114.08 The previous ascending trendline has already been broken, signaling that bullish momentum has faded. After bouncing from 115.45, price failed to create a higher high and is now stalling beneath resistance, increasing the likelihood of another bearish leg. Bearish Scenario A decisive break below 115.55 would confirm renewed selling momentum. Targets: 🎯 Target 1: 115.20 🎯 Target 2: 114.78 🎯 Target 3: 114.08 (major demand zone) Invalidation If buyers reclaim and close above 115.90–116.00, the bearish setup would weaken, opening the door for another attempt at higher highs. Trading Bias Bearish. As long as CAD/JPY remains below the 115.85–115.95 resistance zone, rallies are likely to attract sellers, with 115.20 as the first downside objective, followed by 114.78 and 114.08 if selling pressure accelerates.