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Thoughts on the CADJPY move with recent oil strength
Watching $CADJPY climb to 114.621 today, nearing the high of its daily range, it's hard not to connect that with the recent uptick in crude prices. The BoC's stance remains a bit hawkish, and if oil can hold these levels, it could give the CAD further legs against some of the lower-yielding majors, definitely keeping it on my radar.
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Totally agree, the CADJPY move is definitely one to watch. I'm curious if you see any particular resistance levels that might cap its upward momentum if oil continues to rally?