Hey Traders, In today’s trading session, our attention is directed towards CADJPY, as we closely monitor a potential buying opportunity around the 103.900 zone. CADJPY is currently displaying an upward trend and is approaching a critical support level at 103.900, which holds significant importance.
Furthermore, we are factoring in the latest development of an unexpected and hawkish rate hike by the Bank of Canada. This unforeseen decision has led to a surge in strength for the Canadian dollar, further adding to the potential attractiveness of considering long positions in CADJPY.
Trade safe, Joe.
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