CADJPY Chart Technical Outlook stalls the bullish rally amid investors’ worries about China and FOMC*
CAD/JPY broad bias is bullish, but the risk-off sentiment can bring corrections. The weak services data from China, the US-China tensions, and the anticipated hawkish FOMC minutes trigger risk aversion today.
The pair shows overbought conditions on higher time frames, but dips are expected to find buyers.
I expect an initial pullback as the risk-off continues.
Resistances: 109.50, 110.00
Supports: 108.70, 108.10
