FXstreet.com (San Francisco) - CAD/JPY is trading a broad range between 77.70 and 78.22, last at 77.90 vs. 78.00 late Monday. The rally from recent lows in the 76.30 area has stalled in the 78.00 zone, and now hovers below the 38.2% retracement level of the 85.00/74.41 downswing.
From TD Securities: “The CAD has managed to gain a little more than we had expected this week but our bias here remains more negative at the moment. A clear break above 79.00/10 is needed to give the chart a more constructive feel for the CAD in the short run.”
From TD Securities: “The CAD has managed to gain a little more than we had expected this week but our bias here remains more negative at the moment. A clear break above 79.00/10 is needed to give the chart a more constructive feel for the CAD in the short run.”
