The CADJPY pair has recently continued its formation of correctional bullish waves, reaching the 23.6% Fibonacci correction level at 107.15, establishing a crucial barrier against current trades.
Despite the ongoing correction, we anticipate the development of temporary sideways fluctuations due to conflicting signals from major indicators. It is essential to await the gathering of negative momentum to activate the bearish trajectory. We expect a gradual move towards 106.55, with the subsequent target set at 105.85.
The projected trading range for today is expected to fluctuate between 107.20 and 106.55.
Anticipated Trend for Today: Bearish