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CADJPY

XM Research

XM Research - 2 weeks agoBullish

Technical Analysis – CADJPY aims for April’s multi-year high

CADJPY surpasses key resistance levels, but enters overbought zone Next resistance at 117.93; support at 115.80-116.00 Canadian CPI inflation due for release at 12:30 GMT   CADJPY is in the third consecutive week of gains, having experienced an impressive rally to almost reach the 117.00 round level following the rebound near the 50-day simple moving average (SMA) at 113.20. The bulls accelerated successfully above April’s closing price of 115.78 last Friday, surpassing the co
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XM Research - 3 months agoNeutral

Technical Analysis – Is CADJPY setting the stage for its next bull run?

CADJPY remains within a range despite hitting new high Upside risks exist above 111.50; bears could take the lead below 110.40 BoC rate decision at 13:45 GMT is the highlight of the Canadian calendar   CADJPY has been trading sideways after touching the 112.00 area, keeping its weak momentum despite reaching a new high of 112.46 last week - the highest level since the beginning of 2008. The market's ability to stay resilient above the 20-day simple moving average (SMA) has b
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XM Research - 6 months agoNeutral

Technical Analysis – CADJPY pulls below 2-month high ahead of BoC rate decision

CADJPY leans to the downside after two-month high 2024 uptrend remains intact above 109.50 BoC policy announcement due at 15:00 GMT   CADJPY lost momentum after the peak at a two-month high of 110.37 on Monday, but January’s series of higher highs and higher lows on the four-hour chart remain intact and only a break below the 50-period simple moving average (SMA) and the support trendline at 109.40 would put the upward trajectory in doubt.
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XM Research - 1 year agoBearish

CADJPY snapped a two-month winning streak, extending its March losses to the 2023 low of 94.62 this week. Strikingly, the price has also reached the extension of the support trendline drawn from the 2020 pandemic low at 95.00. Hence, although the momentum indicators keep decelerating in the bearish region, flagging more downside ahead, that could be an ideal place to pause, reverse and maybe head uphill.
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XM Research - 1 year agoNeutral

CADJPY turned gently upwards after its latest aggressive downfall halted around the 95.00 round level. There is potential for more upside as the RSI and the MACD keep making higher lows despite the negative trajectory in the price, showing bullish divergence. Yet, whether the bulls have enough fuel in the tank to stretch above the two resistance trendlines at 96.00 and 97.40 respectively remains to be seen.
XM Research - 2 years agoBearish

CADJPY is plunging to a fresh nine-month low of 96.68, losing more than 4% in just one session as the Bank of Japan announced an unexpected adjustment to its YCC policy, but maintains it is not tightening. From the technical perspective, the RSI is diving towards the 30 level, while the stochastic is also approaching the oversold zone. Both are moving with strong momentum, confirming the bearish structure.
XM Research - 2 years ago

Daily Market Comment – Financial world locks gaze on US employment data

Dollar hits 20-year high ahead of the NFPs Strong report could justify aggressive Fed hikes Yen, euro lose the most; loonie takes the first place Dollar climbs higher as data support forceful Fed The US dollar continued flexing its muscles against all but one of the other major currencies on Thursday and during the Asian trading session Friday, with the dollar index hitting a 20-year high.
XM Research - 2 years ago

Daily Market Comment – A calmer start after torrid week, spotlight on Powell testimony

Dollar eases off as risk appetite makes a tepid return, US futures edge up Euro climbs despite Macron losing parliamentary majority Fed hawks downplay recession risks but investors cautious ahead of Powell Commodity prices remain pressured after sharp selloff Panic selling pauses for now as yields pull back Markets got off to a steadier start on Monday following last week’s turmoil that tipped the S&P 500 officially into a bear market.
XM Research - 2 years ago

Daily Market Comment – Yen sinks again as soaring yields lift dollar; oil hit by Shanghai lockdown

BoJ steps in to preserve yield target as US 10-year jumps to 2.55%, dollar/yen shoots up Equities mixed as tepid optimism for Russia-Ukraine talks overshadowed by recession fears Oil prices slip again as China locks down Shanghai amid virus spike Yen goes back into freefall as BoJ defends yield ceiling After a short-lived bounce-back, the Japanese yen resumed its freefall in currency markets on Monday, sinking against all of its major peers.
XM Research - 2 years agoNeutral

Technical Analysis – CADJPY bears subdued again by one-month floor

CADJPY is struggling to accelerate its freshly revived negative bearing further below the 90.00 handle, where a support base has somewhat solidified since the end of January. The longer-term simple moving averages (SMAs) are steadier than the 50-period SMA, which has dipped, sponsoring the latest decline in the pair. The Ichimoku lines indicate that negative forces have paused, while the Ichimoku cloud maintains its frail bearish tone.
XM Research - 3 years ago

Bank of Canada meets as Omicron hits loonie – Forex News Preview

Not much is expected from the Bank of Canada when it concludes its meeting at 15:00 GMT Wednesday. The domestic economy is absolutely booming, setting the stage for several rate increases next year. However, most of that is already priced in and uncertainty around Omicron could keep policymakers sidelined for now. As such, the Canadian dollar will be driven mostly by oil prices, although eventually, it could shine as carry trades come back in fashion.    Firing on all cylinders The Canadian
XM Research - 3 years agoBearish

CADJPY is returning higher, after the fall to a new two-month low of 87.80 and is approaching the 200-day simple moving average (SMA). Technically, the RSI indicator is confirming the recent view as it is pointing up in the negative region. However, the MACD oscillator is extending its bearish momentum below its trigger and zero lines, mirroring the downward wave from the six-year high of 93.00. If the price rises beyond the 200-day SMA at 88.60 it could meet immediate resistance at the 89.65
XM Research - 3 years agoBullish

CADJPY got extra bullish traction following the break above the descending trendline, dissolving the bearish pattern from the 3 ½-year high of 91.17 and printing a new five-month high at 89.24 ahead of the Canadian jobs data on Friday. The RSI and the Stochastics are flirting with overbought levels, making downside corrections likely. That said, neither of them has found a peak to guarantee that case yet.
XM Research - 3 years ago

US Open Note – Wall Street could test bearish weekly close; loonie bulls gear after mixed jobs data

US-China relations hit the wires An overnight phone call between the US president Joe Biden and China’s leader Xi Jinping occupied the media on Friday. Not because of the market reaction it caused since that was negligible, but because of the potential positive implications the dialogue could have on the broken US-China trade relations in the future.
XM Research - 3 years ago

BoC to keep quiet as Canada’s election approaches - Forex News Preview

The Bank of Canada will wrap up its latest meeting at 14:00 GMT Wednesday. Some disappointing economic data coupled with the election later this month will likely keep the central bank on the sidelines. As for the loonie, a patient BoC and rising political uncertainty could make for some choppy trading, but the big picture remains promising. The nation’s jobs data for August will also be released at 12:30 GMT Friday.  Playing it slow The Bank of Canada is unlikely to disturb the waters this
XM Research - 3 years ago

US Open Note – Risk currencies become the best performers as delta fears persist

Jackson Hole in focus, as delta strain challenges policy decisions Although not a game changer yet, the RBNZ policy announcement showed last week that the spread of the delta virus strain could bring some rescheduling in monetary policy plans, and therefore some exciting volatility in FX markets. Policymakers postponed a widely expected 25 bps rate hike for later in the year as a handful of new cases was enough to prompt a snap lockdown given the low vaccination rates in New Zealand.
XM Research - 3 years ago

US Open Note – Stocks to close the week unharmed as the focus turns to the Fed

Stocks flirt with record highs Despite a choppy week, which spurred pandemic fears before putting them back to rest again, global stocks bound up their wounds as investors cheered on robust corporate profits and assessed that fiscal and monetary policy could still protect economies from covid breakouts. Industrials, basic materials, and consumer cyclicals drove gains in the pan-European STOXX 600 today, pushing the index closer to its recent record highs, while upbeat earnings in telecommunicat
XM Research - 3 years ago

US Open Note – Pandemic anxiety spurs risk aversion; Wall street futures in the red

Pandemic uncertainty resurfaces The cocktail of a contagious Covid delta variant and the stabilization in vaccinations revived memories of lockdown restrictions and amplified inflation fears at a time when investors were confident that the summer months could boost economic growth, especially in the hardest-hit tourism sector. The major concern is how the pandemic will evolve when the flu activity resurfaces in the last quarter of the year and whether governments will reimpose strict curbs or
XM Research - 3 years agoBearish

Technical Analysis – CADJPY points to trend deterioration

CADJPY stretched the downfall from the 91.17 top to a fresh low of  87.09 last week, downgrading the outlook in the short-term picture. The recent intersection between the 20- and 50-day simple moving averages (SMAs), which is the first since September 2020, is endorsing the bear turn in market trend. This week, the pair managed to pare some losses but the red Tenkan-sen line is currently blocking the way higher at 88.64, questioning how long the bulls could persist.
XM Research - 3 years agoBullish

CADJPY continues to oscillate in the vicinity of the 91.00 handle and the muted Ichimoku lines. The climbing simple moving averages (SMAs) are aiding bullish price developments, while the Ichimoku lines are not signalling any decisive directional momentum. The short-term oscillators are reflecting the recent decrease in positive momentum; yet, this move does not seem to be that sustainable as it is nearing a significant support zone.

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