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- CAD/JPY to extend its race higher towards the 99 zone – Scotiabank
CAD/JPY to extend its race higher towards the 99 zone – Scotiabank
CAD/JPY rally resumes. In the view of economists at Scotiabank, gains risk extending towards the 99 area.
Limited scope for corrections lower
“A weekly close above 94.41 (61.8% Fib of the 2015/2016 decline in the cross) targets additional gains to 99.05 (76.4% retracement).”
“Trend signals are bullish on the daily, weekly and monthly oscillators, suggesting limited scope for CAD corrections lower.”
“Minor dips (towards the low 94s) should be well-supported.”
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