1
THby u/thomasandersson·4dAnalysis

$CADJPY approaching a key resistance level on the daily

Been watching $CADJPY and it's really pushing towards that 115.87 area, which looks like a pretty significant resistance from the recent highs. I'm wondering if we see some profit-taking or a potential rejection there, given the strength it's shown lately. The move would be invalidated if it breaks cleanly above 116.00 and holds, but for now, that level seems like an interesting spot to observe price action.

2 comments · 1 points

2 Comments

ANu/aaron_nguyen·4d

That's a good point about the 115.87 area. Do you think the recent oil price strength is having a big impact on CAD, or is it more of a general market move for JPY?

1
TWu/thomas.wilson·4d

That's an interesting point about the 115.87 area. Do you think the recent strength in oil prices might give CADJPY enough momentum to break through, or will the technical resistance still hold more sway?

1

More like this