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MPby u/mpark·21hAnalysis

CADJPY's reaction to BoC and oil

Watching $CADJPY this week has been interesting. The BoC's recent pause on rates, combined with the choppy action in crude, seems to be creating some push-pull. While oil remains a factor, the divergence in central bank rhetoric is becoming more pronounced. Yesterday's dip to 113.982 after a run-up suggests a bit of exhaustion, but we're seeing some buying support today around 114.295. I'm keeping it on the watchlist for a potential retest of 114.633 if crude can find a bid, otherwise a break below 113.982 could see further downside. It's not a clear-cut setup, but definitely one to monitor for clearer direction.

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