CADJPY Chart Technical Outlook Yen pairs show great volatility this morning due to what might be an intervention from the BoJ. There is no playbook for what might be next in the short term. The broad bias is bullish and dips continue to find buyers. The intervention can produce sharp corrections but hard to reverse a trend and fight fundamentals – JPY is fundamentally weak. Therefore, I expect dips to be bought for JPY pairs.
Supports in CAD/JPY are at 112.30 and 111.00.
Resistance is at the recent swing high at 117.28.
