CAD/JPY finds resistance at 100.00

Note: This section contains information in English only.
Source: Dukascopy Bank SA


The Japanese Yen has been massively dropping due to the Bank of Japan easing monetary policy and the economy of Japan lagging behind. Most recently, on the CAD/JPY charts the fundamental move resulted in an almost 10.00% surge from the 92.00 level up to 100.00.

During the review that was done on April 12, it was spotted that the pair has been finding resistance in the 99.92/100.20 zone and support was located at 97.08/97.20.

In the case that the pair continues to surge, it would have to pass the 99.92/100.20 zone. Afterwards, resistance might be found in the 2015 high level zone at 101.15. Further above, round exchange rate levels are expected to provide resistance, until the pair reaches the 2014 high level at 106.50. Meanwhile, note that the 104.00 had acted as major resistance during late 2014.

On the other hand, a potential decline would find support in the 97.08/97.20 zone, before a larger decline occurs.
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