Yesterday, CAD/JPY struggled to rise. During Tokyo trading hours, Japan’s central bank governor made positive comments about a possible interest rate hike, making the yen stronger and pushing CAD/JPY down to around 102.50.
Later, it recovered above 103, but in the New York market, risk-averse trading caused a further drop to 102.04. U.S. President Trump said that the U.S. does not need Canada’s cars, energy, or wood, which affected the market.
However, since his statements often change, some traders think the bad news is over for now. Since today is the end of the trading week, traders may adjust their positions for a short time.
CAD/JPY Expected Range: 104.00 – 102.00
Note: The above information does not guarantee profits. Make your own decisions when trading.