The CAD/JPY currency pair has demonstrated resilience against negative pressures, closing positively above the crucial support level of 102.80. The price has rallied past the 61.8% Fibonacci correction level, reaching 104.75.
We anticipate a buildup of positive momentum, which could propel the pair above the 105.20 level, potentially extending toward the 55-day moving average at 106.30, marking the next significant target for bullish trades.
The expected trading range for today is between 103.55 and 105.20.
Trend Forecast: Bullish
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