The Canadian JPY pair is trading on a 4-hour frame within a negative Wolfe Wave pattern, and accordingly we expect the beginning of the decline after the completion of point No. 5 from the 111.00 levels, with the pair’s first targets being a decline to the 110.00 levels and then the 108.60 levels, with the stop loss level and failure of the pattern being the close above the 112.30 levels.