Thoughts on the CADJPY and BOC's next move

Been watching the $CADJPY pretty closely today, trading around 116.2542. It's been hovering in that 116.089–116.464 range, which honestly, isn't telling us much directionally short-term. What really piques my interest is the broader macro picture influencing the CAD side of that pair. The Bank of Canada has been... well, a bit of a moving target lately, and the market seems to be pricing in some uncertainty around their next move. Are they truly done with hikes, or is there still an outside chance if inflation data doesn't cooperate?

It feels like the next few CPI prints and employment figures out of Canada are going to be critical. If we see any signs of stickiness, especially on core inflation, it could put some upward pressure back on the CAD, even if the general sentiment is leaning towards rate cuts eventually. For now, I'm keeping it on the watchlist, looking for a clearer signal from the BOC's rhetoric or some stronger economic data. Not jumping in yet, but the potential for a decent move is there once we get more clarity on the policy front.