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4 May 2015
CAD/JPY grinding higher – TDS
FXStreet (Barcelona) - FX Strategists at TD Securities, explain that trend momentum remains supportive of a CAD/JPY bullish move towards 100/103 area.
Key Quotes
“CADJPY remains well-supported but gains are struggling to extend significantly above trend channel and retracement resistance in the low 99 area.”
“The alignment of trend momentum signals across short, medium and long-term timeframes constitute a strong source of support for the bull move extending towards the 100/103 area at least. But, as we noted late last week, we think that progress needs to come sooner rather than later now as this market has been prone to moving sideways for extended periods in recent weeks.”
“Short-term support is 98.30./50.”
Key Quotes
“CADJPY remains well-supported but gains are struggling to extend significantly above trend channel and retracement resistance in the low 99 area.”
“The alignment of trend momentum signals across short, medium and long-term timeframes constitute a strong source of support for the bull move extending towards the 100/103 area at least. But, as we noted late last week, we think that progress needs to come sooner rather than later now as this market has been prone to moving sideways for extended periods in recent weeks.”
“Short-term support is 98.30./50.”