FXstreet.com (San Francisco) - Yesterday TD Securities noted some potential signs of weakness in CAD/JPY price action, as the market stalled at Ichimoku Kinko Hyo cloud resistance and printed a doji candle signal, visible on the daily timeframe chart.
The cross has since managed slide to a 5-day low of 77.99 in late NA trading vs. 78.76 Thursday, last at 78.16. “The selloff in the cross today suggests some further potential for the cross to give back some of the June rally in the short-term,” says TD. “We look for support in the 77 area though and would only expect deeper losses if the CAD breaks 76.65.
USD/CAD is pulling back from recent 5-day highs above 1.0200 ahead of the closing bell on Wall Street, last at 1.0185 vs. 1.0140 late Thursday.
The cross has since managed slide to a 5-day low of 77.99 in late NA trading vs. 78.76 Thursday, last at 78.16. “The selloff in the cross today suggests some further potential for the cross to give back some of the June rally in the short-term,” says TD. “We look for support in the 77 area though and would only expect deeper losses if the CAD breaks 76.65.
USD/CAD is pulling back from recent 5-day highs above 1.0200 ahead of the closing bell on Wall Street, last at 1.0185 vs. 1.0140 late Thursday.
