CAD JPY

Weaker oil prices could be a headwind to CAD/JPY, as could the increasing odds the BOJ move towards their next hike. So the fact that momentum turned lower on CAD/JPY around the 200-day SMA could be a bad omen for bulls.

The CAD/JPY trend has turned negative following this week’s big rally in the yen, while the USD/CAD will be in focus with the release of key US data in the coming days.

Bitcoin momentarily touched a record high before reversing lower in spectacular fashion, weigh in risk and sending the Japanese yen broadly higher.

USD/CAD continues to hold a range inside of a range, but CAD/JPY is bristling at resistance after having set a fresh 16-year high last week.

The Japanese yen has finally found some much needed support this week. It is all to do with the falls in global bond yields, and the unwinding of carry trades. US yields slumped earlier this week after US CPI fell more than expected, cementing expectations that the Fed (and other central banks) will no longer raise rates further

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CAD/JPY has piqued our interest ahead of today's economic data, which includes PMI's for Europe and the US and Canada's inflation and retail reports.

A 25-basis-point hike is expected

Fundamental trends show no imminent signs of reversing, but CAD/JPY’s chart nonetheless suggests that there may be an opportunity for one or both of these currencies to reverse some of this year’s moves.

The trouble was that it surprised nobody, so at the time of writing NZD is trading lower for the day. Still, it’s RBNZ’s first hike in 7 years so it's worth mentioning.