CADJPY Will 98.00 Resistance Hold

Tues 14th March 2023 : Daily Currency Strength Analysis

In Today’s Video we’re looking at Trading Setups in:

• CADJPY
• CADCHF (Covered in Pro-Members Video)
• GBPAUD (Covered in Pro-Members Video)

CADJPY Will 98.00 Resistance Hold

CADJPY is our forex pair to focus on today as well as CADCHF and GBPAUD. 

CAD is the second weakest currency across both tables which could offer us opportunities to short it against stronger currencies.

The JPY has appeared on the day traders table as the third strongest currency. 

CADJPY has traded through multiple support zones of late and has recently found support at 96.25.

The higher volatility in the market could benefit the JPY. 

Price is approaching the key highs or 98.00 where sellers entered the market previously. 

If price rejects these highs we could see price trade back down to the lows of 96.25 or even 95.00.