The Canadian Dollar has extended its decline against other major currencies during the previous trading sessions. However, the decline can be observed notably in the CAD/JPY chart. The Loonie is trading in a narrow channel against the Yen. The pair has re-tested the upper boundary of the junior channel. As for the near future, the currency exchange rate could be a false breakout upwards to test the weekly and the monthly resistance near 86.91. Meanwhile, the overall market sentiment remains bearish.