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6 Feb 2015
CAD/JPY hits fresh session lows; holds 94 handle
FXStreet (Mumbai) - CAD/JPY gave away previous session’s gains and inched lower during the European session, as rising oil prices failed to lift the Canadian dollar.
Faces stiff resistance at 94.51 levels
Currently, the CAD/JPY pair traded at 94.19 levels, down -0.35% on the day, retreating from fresh day’s high posted at 94.15 levels few minutes ago. The cross in CAD/JPY declined largely on weakening Canadian dollar versus its US counterpart. Sharp recovery in oil prices has also failed to lift the loonie. On the other hand, USD/JPY continues its choppy trade from the previous session as traders now look forward to employment report from US and Canada.
The cross continues to remain pressured as long as it holds below 94.51 levels. At the moment, USD/CAD trades 0.18% higher at 1.2455 levels, while USD/JPY trades -0.19% lower at 117.29 levels.
CAD/JPY Levels to consider
To the upside, the next resistance is located at 94.51 and above which it could extend gains to at 94.86 levels. To the downside immediate support might be located at 94 levels below that at 93.29 levels.
Faces stiff resistance at 94.51 levels
Currently, the CAD/JPY pair traded at 94.19 levels, down -0.35% on the day, retreating from fresh day’s high posted at 94.15 levels few minutes ago. The cross in CAD/JPY declined largely on weakening Canadian dollar versus its US counterpart. Sharp recovery in oil prices has also failed to lift the loonie. On the other hand, USD/JPY continues its choppy trade from the previous session as traders now look forward to employment report from US and Canada.
The cross continues to remain pressured as long as it holds below 94.51 levels. At the moment, USD/CAD trades 0.18% higher at 1.2455 levels, while USD/JPY trades -0.19% lower at 117.29 levels.
CAD/JPY Levels to consider
To the upside, the next resistance is located at 94.51 and above which it could extend gains to at 94.86 levels. To the downside immediate support might be located at 94 levels below that at 93.29 levels.