24 Jun 2014
CAD/JPY may target 96.00 near term - TDS
FXStreet (Bali) - Shaun Osborne, Chief FX Strategist at TDS, thinks that further gains in CAD/JPY look possible (towards 96) near-term.
Key Quotes
"CADJPY’s rally is getting a little more traction as the market tests the waters above 94.88, the spike high reached in early April. We have been reluctant to put too much emphasis on recent CAD gains above 94 but the complexion of the rally changes a little as the market makes—and if it can hold—new cycle highs. Trend momentum has shifted abruptly to a more positive position on the shorter-term studies so further gains look possible (towards 96) near-term."
Key Quotes
"CADJPY’s rally is getting a little more traction as the market tests the waters above 94.88, the spike high reached in early April. We have been reluctant to put too much emphasis on recent CAD gains above 94 but the complexion of the rally changes a little as the market makes—and if it can hold—new cycle highs. Trend momentum has shifted abruptly to a more positive position on the shorter-term studies so further gains look possible (towards 96) near-term."