10 Mar 2015
CAD/JPY: No strong views, although bullish bias - TDS
FXStreet (Guatemala) - Analysts at TD Securities noted the technical conditions surrounding the CAD/JPY cross.
Key Quotes:
"CAD/JPY remains pressed up against resistance in the mid 96 area and positive trend momentum on the daily chart suggests that the short-term, directional risk here is higher."
"But the lack of progress in spite of a favourable short-term technical backdrop leaves the CAD looking stuck, especially after last week’s bearish rejection of 96.50+ levels. No strong views here at the moment; the next move will be determined by the CAD’s move above 96.50 or below 95.50."
Key Quotes:
"CAD/JPY remains pressed up against resistance in the mid 96 area and positive trend momentum on the daily chart suggests that the short-term, directional risk here is higher."
"But the lack of progress in spite of a favourable short-term technical backdrop leaves the CAD looking stuck, especially after last week’s bearish rejection of 96.50+ levels. No strong views here at the moment; the next move will be determined by the CAD’s move above 96.50 or below 95.50."