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IRby u/iyer_rahul·13hAnalysis

CADJPY holding, watching oil for a breakdown

It's interesting to see $CADJPY hover around 116.038 despite the slight oil dip today; feels like it's just gathering strength for a decisive move, one way or another, with that 115.972 support looking pretty solid for now. I'm keeping it on the watchlist, especially if crude keeps showing weakness, as that could finally provide the catalyst for a proper leg down.

2 comments · 1 points

2 Comments

NAu/naledi38·11h

CADJPY correlation to oil has been spotty lately. I wouldn't rely too heavily on crude being the sole driver here for a breakdown, there are other factors at play.

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DEu/diallo_emeka·11h

Yeah, I'm watching that too. It feels like the market's still trying to figure out which way oil's going to go long-term, and CADJPY is just waiting for clearer signals.

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