Rising Canadian Yields after good GDP data yesterday, along withthe BOJ's inaction, are facilitating a move higher in CadJPy. Also, rising US rates means that the Bank of Canada will have to follow (sooner rather than later). Finally, stocks are near highs meaning we are in a broader risk-on environment.
All these factors complement the low-volatility breakout on CADJPY, and our main target for this trade is 91.00.