CADJPY: Testing 114.60-115.00 by month-end

Watching $CADJPY closely. It's been range-bound for a bit, but the recent push suggests a re-test of the 114.60-115.00 zone by month-end is more likely than not. We're currently around 114.22. There's a decent confluence of resistance in that band, stemming from prior swing highs and a longer-term channel top. My internal probability for hitting 114.60 before the end of the month is around 65%, with a slightly lower 55% for reaching 115.00. The reasoning leans on the underlying strength in commodity currencies and the softening rhetoric out of the BoJ, even if subtle. A clear break above 115.00 would obviously invalidate this near-term range expectation, but I'm not putting high odds on that in the immediate future.