USD/JPY is at a fresh session high of 1.0723 and the pair is now 90 pips higher than before the weak Canadian jobs report. The rally reinforces support from the uptrend that started in 2012.
USDCAD daily with 200dma
Taking a closer look, there is some resistance close to 1.0750 but the real convergence of selling interest doesn’t come until close to 1.0800.
USD/CAD daily
The two main events in the week ahead for this pair are Yellen’s Humphrey Hawkins testimony on Tues/Wed and the Bank of Canada decision on Wednesday. A hawkish tilt by one central bank or the other would send USD or CAD surging.
