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Chart Of The Day: CAD/JPY

Published 06/08/2021, 07:27 PM
Updated 07/09/2023, 06:31 AM
CAD/JPY
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CAD/JPY Daily Chart.

CAD/JPY is sitting on channel support, and if you are a Forex Analytix subscriber, you were well aware of the 161% extension above the 91.00 level with the divergent RSI, which ended up stalling the rise. The issue tomorrow is that the pair is facing an interest rate decision from the Bank of Canada, and even though they are expected to taper further in the coming meetings the one thing the BoC could do is try to talk down its very strong currency. If no mention is made of its strong currency tomorrow, we could see that 91.36 level next. However, a break of channel support could put the 88.50 level back in view. 
 

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