CAD/JPY Price Analysis: Uptrend halted around 110.00 amid a risk-on mood

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The CAD/JPY advancement stalls some 25 pips shy of the 110.00 mark on Monday, even though market sentiment was upbeat due to speculation that most global central banks won´t raise rates further.

CAD/JPY sees a modest uptick, trading at 105.52, but momentum wanes near the 110.00 psychological barrier. The currency pair shows a neutral to bearish technical setup, with a pattern of lower highs and lower lows since hitting the YTD peak. A push above 110.00 could open the path towards September highs, while a pullback might see support near key Ichimoku levels. The cross-pair is trading at 105.52, gains 0.19%.

Conversely, if sellers stepped in, they could drag prices toward the confluence of Kijun-Sen and Senkou-Span B at around 108.92. Once the pair tumbles below the latter, the bear's next target would be the Tenkan-Sen level at 108.62 before dropping to the bottom of the Ichimoku Cloud at 107.71. CAD/JPY Price Chart – Daily CAD/JPY Technical Levels CAD/JPY Overview Today last price 109.52 Today Daily Change 0.14 Today Daily Change % 0.13 Today daily open 109.38 Trends Daily SMA20 109.

 

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