Japan's inflation is set to reach 2% in April's reading, for the first time since 2015. But what about the weaker Yen?!
CAD/JPY: the stronger yen
2019-11-11 • Updated
SELL 80.64; TP1 80.40; TP2 80.00; SL 80.80
The Japanese yen keeps strengthening versus other currencies as the market remains in the risk-averse mode. CAD/JPY is in the long-term downtrend and is now making another leg down. Yesterday the pair failed to close above the 50% Fibo level in the 81.00 area. Today the exchange rate slipped below 61.8% Fibo, and the next target is the 78.6% Fibo level at 80.40.
Last week, EURUSD broke below a significant support level, the gas price retested its October high, and the oil prices managed to correct lower on the bearish signs of more oil supplies coming into the market.
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