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17 Sep 2013
CAD/JPY sticks for 96 handle bids for the week thus far
FXstreet.com (Barcelona) - The AUD/CAD foreign exchange cross rate is currently trading at 96.11 near session highs mostly on the back of Yen weakness slightly in the positive for the week so far.
CAD/JPY looking for 95 support to hold
“CAD/JPY has continued to drift back after peaking around 97 last week,” said the TD Securities Toronto based FX Research Team, adding: “We look for support at 95.20/30 region—break out resistance (now support) and minor retracement support. We had been looking for the early September break out to extend towards the low 98 area and the bull scenario now hinges on whether support in the low 95 zone can hold or not. Weakness back under 95 puts a retest of the low 92 zone back on the radar.”
CAD/JPY key technical levels
Immediate resistance to the upside for CAD/JPY shows at recent session/weekly highs 96.12, followed by Friday's highs at 96.70, and Wednesday's highs at 97.20. To the downside closest support lies at Fri/Thurs lows 95.88/86, followed by Sept 06 highs 95.85, and NY session lows at 95.73/70.
CAD/JPY looking for 95 support to hold
“CAD/JPY has continued to drift back after peaking around 97 last week,” said the TD Securities Toronto based FX Research Team, adding: “We look for support at 95.20/30 region—break out resistance (now support) and minor retracement support. We had been looking for the early September break out to extend towards the low 98 area and the bull scenario now hinges on whether support in the low 95 zone can hold or not. Weakness back under 95 puts a retest of the low 92 zone back on the radar.”
CAD/JPY key technical levels
Immediate resistance to the upside for CAD/JPY shows at recent session/weekly highs 96.12, followed by Friday's highs at 96.70, and Wednesday's highs at 97.20. To the downside closest support lies at Fri/Thurs lows 95.88/86, followed by Sept 06 highs 95.85, and NY session lows at 95.73/70.