CAD/JPY HEADING UPWARD TO 92.50 IN MEDIUM-TERM
17/07/2017
The CAD/JPY’s long-term exchange rate target zone confirms for CAD/JPY turned to upward. After visiting the upper medium-term band, the pair pressured to downward to central band/central parity and aligned to upward at 80.50.
The previous width of medium-term exchange rate target zone managed by BoC and BOJ is 15 % (76.50/88.50) for 1200 PIPs and equal to the global monetarists’ consensus for 15 % to maintain the economic and financial stability.
Based current new medium-term exchange rate target zone, CAD/JPY will visit the level of 92.50 in medium term (80.50/92.50). At such, long/buy on CAD/JPY medium-term exchange rate target zone is recommendable. Long/buy at lower to upper bands for daily, weekly, monthly bands will be updated in this analysis. Short/sell not recommendable to avoid possible risk.
The CAD/JPY’s long-term exchange rate target zone confirms for CAD/JPY turned to upward. After visiting the upper medium-term band, the pair pressured to downward to central band/central parity and aligned to upward at 80.50.
The previous width of medium-term exchange rate target zone managed by BoC and BOJ is 15 % (76.50/88.50) for 1200 PIPs and equal to the global monetarists’ consensus for 15 % to maintain the economic and financial stability.
Based current new medium-term exchange rate target zone, CAD/JPY will visit the level of 92.50 in medium term (80.50/92.50). At such, long/buy on CAD/JPY medium-term exchange rate target zone is recommendable. Long/buy at lower to upper bands for daily, weekly, monthly bands will be updated in this analysis. Short/sell not recommendable to avoid possible risk.
Canadian daily and weekly bands performance is mixed. Looking for USD/CAD and EUR/CAD at upper band and CAD/JPY and CAD/CHF at lower band to re-enter the market to long CAD/JPY and CAD/CHF and to short/sell USD/CAD and EUR/CAD in line to medium-term exchange rate target zone directionalmovement. Likely by tomorrow.