CAD was strong today, since of WTI oil was also going up. On the other side, it was risk ON day, so traders were selling JP bonds, so YPJ was weak.

cadjpy
We have two options here. First (1) that price will break marked blue resistance level, which was tested few times in recent past. We will then wait for a retest and long on a retest, preferably also from 55 EMA. Second (2) option is, that blue marked resistance will be respected again. We will then need to wait for a Lower high and then we could short that pair again down to round 89.00.
Tomorrow there is no major Japan news, in Canada we have Trade Balance news, which could be worst than expected, since of worst oil export. Don’t forget that we also have Australian Trade Balance Trade Balance news and Cash rate, which could influence CAD currency, since both currencies AUD and CAD are commodity driven currencies.

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