CADJPY pair is heading to 90 figures. Historically, 89.5-90.5 has been a reversal zone for the pair in several occasions, therefore, if passed, held and secured, next immediate targets are 95, 100 and 105 figures.
For the shortest term, it is all on BOJ next week. I set a sell order on 90.32, targeting 75 figures and SL on 95 figures.
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Everything looks good for the CAD as oil is riding high and everybody expect the BOJ to continue the attempts of lowering the Yen quotes.
Therefore, I don´t see any chance for bears here unless BOJ gives us any surprise or Bank of Canada makes any prevent the currency from appreciating too much.
Will try to find a good entry point after BOJ and raise my target to 92 figures
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Excellent trade setup for Monday! Chek the chart below.
Will short on opening, targeting 78 figures
Trade active
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Selling from 85.12
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Not going as fast as I´d like to... Moved to profitability
Trade closed: target reached
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The Canadian Dollar started to grow with oil. Let´s see if this goes higher!