CADJPY Chart Technical Outlook may correct lower first on market worries to bounce later broad bias is bullish, as the recent inflation and labor data from Canada suggest more strength in CAD. More optimism in the US debt negotiations will pressure JPY, pushing the pair higher.
The pair needs to trade above 102.90, the recent high, as the 4H RSI divergence can put technical pressure for initial correction, especially if a risk-off sentiment is developed today. But dips will attract buyers.
Resistances: 102.90, 103.50
Supports: 102.00, 101.70
