HomeLive CommentsCAD/JPY marches higher, targeting 96.87 next

CAD/JPY marches higher, targeting 96.87 next

CAD/JPY’s rally accelerates again today and hits as high as 95.68. Further rise is expected as long as 94.34 minor support holds. Next near term target is 161.8% projection of 87.42 to 92.16 from 89.21 at 96.87 next. Below 93.34 minor support will bring consolidations, but retreat should be contained above 92.16 resistances turned support to bring up trend resumption.

Also, noted that the up trend from 73.80 could either be a leg inside the pattern from 68.38, or the start of a long term up trend. Hence, 106.48 high is the next medium term target.

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