Considering the current $CADJPY traction, with the daily range showing some willingness to push higher, I'd put the probability of seeing 117.00 by month-end at around 60%, assuming no significant shift in oil or BoJ rhetoric; the momentum from 116.464 is noticeable.
That's an interesting call. I'm seeing similar momentum but was a bit more conservative on 117.00 by month-end, maybe closer to 50%. What makes you lean towards 60% with those same caveats?
60% seems a bit optimistic given the recent whipsaws, even with the current oil price stability. Any specific technical levels you're watching for a potential rejection?
It's an interesting call, especially with the recent momentum. Do you see any specific levels that might act as stronger resistance before 117.00, or is it more of a straight shot once we clear 116.50?
That's an interesting call. What makes you think 117.00 is the key level here, beyond just a round number? Is there a previous resistance or support you're seeing around there?
60% seems optimistic given the current volatility around that level. A pull back to retest 116.00 before any serious push higher wouldn't surprise me.