FXStreet (Guatemala) – Analysts at TD securities noted the technical conditions surrounding CAD/JPY.
Key Quotes:
“CAD/JPY looks better supported intraday and a decent bounce from the base of the June trading band might well extend a little more in the next few days. The cross is consolidating though and trend momentum is tracking a negative course on the short-term (intraday and daily studies).”
“We rather think CAD/JPY remains blocked below 101 for the moment and might struggle to get much above 100.50. Broader price signals (weekly) are turning a little more negative, reflecting the broader loss of momentum (narrowing, upward sloping range) that has developed in the past few weeks. We are leaning bearish here.”
(Market News Provided by FXstreet)