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The CADJPY currency pair has recently shown a strong bullish impulse, maintaining upward momentum after reclaiming key structural levels. The zones around 108.10 and 107.35 are currently acting as major support areas, suggesting that as long as the price holds above these levels, the bullish bias remains intact.
From a fundamental perspective, the Canadian Dollar continues to find strength — partly supported by stable crude oil prices — which reduces the likelihood of CADJPY retesting the lower zones. Conversely, the technical setup points toward an increased probability of a medium-term move toward the 111.20 target level.
The 111.20 region aligns with the most recent swing high and serves as a potential mid-term resistance zone. A sustained move in that direction could confirm a bullish continuation phase, extending the current uptrend structure.
Disclaimer: This analysis is not financial or investment advice. It is provided for educational and analytical purposes only. All trading decisions and associated risks remain the sole responsibility of the trader.