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10 Apr 2015
CAD/JPY bulls lacking prospects - TDS
FXStreet (Guatemala) - Analysts at TD Securities noted that CAD/JPY saw another fairly strong rejection of the recent range peaks in yesterday's US session (via a bearish outside range signal).
Key Quotes:
"Absent any confirmed trends here one way or the other, we look for the broader, sideways range to extend a little more at least."
"Failure at the 96.40/50 level really means that the CAD should drop back to the low 94 area to retest the range base. Intraday, we see support at 95.50 but unless CAD/JPY can move and hold above 94.50 on a sustained basis, we won’t get too excited about the prospects for a rally here."
Key Quotes:
"Absent any confirmed trends here one way or the other, we look for the broader, sideways range to extend a little more at least."
"Failure at the 96.40/50 level really means that the CAD should drop back to the low 94 area to retest the range base. Intraday, we see support at 95.50 but unless CAD/JPY can move and hold above 94.50 on a sustained basis, we won’t get too excited about the prospects for a rally here."