28 Apr 2015
CAD/JPY bulls pressing up against channel resistance - TDS
FXStreet (Guatemala) - Analysts at TD Securities noted the technical conditions surrounding CAD/JPY.
Key Quotes:
"CAD/JPY retains a firm undertone but progress higher following the break above 96.40/50 resistance remains hard to come by."
"Gains are still pressing up against potential channel resistance in the upper 98 area (near retracement resistance at 99.16 also) but the strength of the short-term trend suggests more upside risk going forward and should also help limit corrective, near-term CAD weakness."
"Look for gains to extend above 99 towards 101 at least."
Key Quotes:
"CAD/JPY retains a firm undertone but progress higher following the break above 96.40/50 resistance remains hard to come by."
"Gains are still pressing up against potential channel resistance in the upper 98 area (near retracement resistance at 99.16 also) but the strength of the short-term trend suggests more upside risk going forward and should also help limit corrective, near-term CAD weakness."
"Look for gains to extend above 99 towards 101 at least."