1 May 2015
CAD/JPY upward bias for 101/103 – TDS
FXStreet (Barcelona) - FX Strategists at TD Securities maintain an upside bias for CAD/JPY, expecting a move towards 101/103, especially on a weekly close above 98.85/90.
Key Quotes
“CADJPY’s push higher is struggling to extend and looks to be stalling around trend channel resistance in the upper 98 area and the CAD slips.”
“There is still positive, residual momentum behind this move up though and we rather think the bias higher could and should be sustained near-term for a push towards 101/103. A weekly close above 98.85/90 would help boost the CAD’s trajectory.”
Key Quotes
“CADJPY’s push higher is struggling to extend and looks to be stalling around trend channel resistance in the upper 98 area and the CAD slips.”
“There is still positive, residual momentum behind this move up though and we rather think the bias higher could and should be sustained near-term for a push towards 101/103. A weekly close above 98.85/90 would help boost the CAD’s trajectory.”