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CADJPY testing tops after BOC hold
The BoC holding steady on rates was widely expected, but the accompanying statement didn't offer any significant dovish tilt. With oil prices firming up again, it's not surprising to see $CADJPY testing 116.25, pushing towards its recent highs.
I'm watching for a potential retest of 116.50. If we get a clear break above that, it could signal further upside, especially if the BoJ remains resolutely dovish in contrast. Conversely, a rejection here could see it cool off back towards 116.00.
1 comments · 1 points
Yeah, it definitely feels like the market's pricing in a prolonged BoJ dovish stance. The 116.50 break would be interesting to see; I'm curious if we'll get enough momentum to really push through it.