Canadian yen movement forecasts

Canadian yen at the basic level

The Canadian yen pair retreated on Tuesday, waiting for some important data from Canada, represented by consumer price data at the monthly and annual level.

On the other side of Japan, tomorrow morning we will have the trade balance and then the basic machinery orders.

JPMorgan prefers to sell Canadian dollars and buy Japanese yen, reflecting the risks of direct tariffs facing Canada and the historical sensitivity of the Canadian dollar to the dynamics of the US dollar.

Canadian yen at the technical level

The Canadian yen pair was able to break the uptrend levels or the ascending price channel on the daily frame, and almost yesterday retested this broken channel.

We expect the pair to start pulling back, can sell from the current levels up to the levels of 107.25.

target the levels of 105.40 and then 105.90 in the near term, and then 105.00 followed by the levels of 103.00 in the medium term.

This scenario fails in the event of another close above the 107.60/75 levels.