CAD/JPY likely to extend towards 101.85 – FXStreet

FXStreet (Barcelona) - FXStreet Editor and Analyst, Dhwani Mehta, sees further gains possible for CAD/JPY towards 101.85 within a week.

Key Quotes

“Technically, on daily chart, the CAD/JPY pair extends gains and edges towards previous highs around the 100 mark. As mentioned earlier, the pair finds good support at 99.05-99.15 zone. The daily RSI at 68.70 aims higher indicating more room for upside. Also, the weekly RSI turned sharply higher at 58.80 also bolsters the case for extended Bull Run.”

“Hence, we anticipate that the CAD/JPY cross could rise to 101.85 levels within this week, with the key support at 99.”

“A break below the crucial support zone, the pair could drop to 98.30 below which floors would open for a test of 97.50 levels.”

USD/CAD extends decline on data, oil rise

USD/CAD dropped further during the American session as the loonie got support from oil rally and upbeat domestic data while in contrast the greenback faced the pressure of a disappointing ADP report.
Mehr darüber lesen Previous

Position squaring continues to sweep across markets – Scotiabank

Camilla Sutton CFA, CMT, Chief FX Strategist at Scotiabank, notes that the higher shift in bond yields, rising commodity prices and inflation expectations has led to a massive position squaring across markets.
Mehr darüber lesen Next