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?
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?
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.
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 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?