Since the beginning of the year, the currency pair lost over 7.5% but last week managed to drop more than 1.0% and is in a bearish phase since late May. Last week the CADJPY initially fell with a wide range but manages to recover from some of its losses and closed in the middle of the weekly range, in addition, succeeded to close below the previous week low, which suggests a bearish momentum. The stochastic is showing a strong bearish momentum and crossed below the 50 midline. The currency pair managed to bounce from the 50-week moving average at 87.09 making a bearish engulfing pattern that squashed the bulls and put the bears on the attack and since then the CADPJY continues making lower highs and lower lows. Expecting a downward move to year-to-date low at 80.54 on a break below the previous week low at 82.25 (scenario 1) or wait for a bounce from the 50 Fibonacci retracement at 83.23 that may trigger a push downward to 2018 low at 80.54 (scenario 2).