workingtraders
Long

$CADJPY ready to rally off #Poloz- Bank of Canada's Statement

FX:CADJPY   Canadian Dollar/Japanese Yen
148 0 7
Immediate resistance stands at 96.500 area. (Red)
Which also lines up with the .618 Fibonacci area of the longer bearish trend . (2014- 12 - 26 to 2015 - 02 - 01).

The 96.500 area has already acted as resistance
once(Red). This time around we are looking for this
resistance break to easily as we have BOC             statements supporting this rally.

The market has taken Poloz (Bank of Canada) statement as hawkish for CAD in the short term.

To Summarize :

Central bank wants to see how the economy responds to the last rate cut and oil             prices.
They believe January rate cut gives greater confidence of reaching full capacity and stable inflation by the end of 2016

The only dovish statement is :
"We are in an uncertain setting"

On the BOJ side they have not leaned back on there QE             program as of yet.
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out