So this pair isn't looked into very often. If you could compare FX market to football, then this pair would probably be in League 1, right after Premier League and Championship. But anyway...
Both of these currencies are looking quite strong, at the moment. It seem that they are trying to prove something to the USD, by trying to push it down as much as they can. We can see that in the USDJPY and USDCAD scenarios.
I believe that the Yen is looking stronger then its Canadian fellow, so in the long-term I believe we could see some lower levels. Especially with that big trend line that acts as a good support level.
Looking for a SELL on any pullback with a target of 85.500 approximately.
As always, people, keep an eye on the price action!
Both of these currencies are looking quite strong, at the moment. It seem that they are trying to prove something to the USD, by trying to push it down as much as they can. We can see that in the USDJPY and USDCAD scenarios.
I believe that the Yen is looking stronger then its Canadian fellow, so in the long-term I believe we could see some lower levels. Especially with that big trend line that acts as a good support level.
Looking for a SELL on any pullback with a target of 85.500 approximately.
As always, people, keep an eye on the price action!