News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
Real Time News
  • Key break here in the 10-year #Treasury yield as it rises to the highest since late June Took out 1.4230 resistance, and the 100-day SMA Eyes now on the 38.2% Fib extension at 1.4775 Also potential falling resistance from March
  • The move in rates after this week’s FOMC has continued and the 10 year yield has pushed up to a fresh two-month-high. Get your market update from @JStanleyFX here:
  • S&P 500 contending with its proverbial ‘line in the sand’ as bulls and bears battle for directional control. How we close/trade around the 50-day moving average could serve as a noteworthy bellwether for risk trends headed into next week. I remain cautious below ~4,480. $SPX $ES
  • USD/JPY trades to a fresh monthly (110.57) amid the pickup in longer-dated US Treasury yields, and the exchange rate may stage a larger advance over the coming days. Get your market update from @DavidJSong here:
  • US yields continue to climb, with the 10-year Treasury yield trading above 1.45% $ZN $ZB
  • $USDJPY bull thesis appears quite constructive. Technicals show topside breakout above trend resistance following a period of consolidation. Bond yields providing the fundamental catalyst. Eyes on Aug/YTD highs. A broad-based deterioration in market sentiment poses downside risk.
  • WTI posting another session of strong gains, currently flirting with the 74 handle $CL #Oil #OOTT
  • The New Zealand Dollar’s bullish breakout attempt in early-September was rebuffed. Price action at the end of the month is telling a different story. Get your market update from @CVecchioFX here:
  • So much for that Evergrande recovery. Shares of the troubled Chinese property developer are down approximately -12% today following yesterday's impressive rally (biggest in a year)
  • Retail trading platform Robinhood announces hire of new Chief Compliance Officer amid regulatory scrutiny
Canadian Dollar Technical Analysis Overview: USDCAD, CADJPY

Canadian Dollar Technical Analysis Overview: USDCAD, CADJPY

Justin McQueen, Strategist

CAD Analysis and Talking Points

  • USDCAD | Key Support Holding for Now
  • CADJPY | Bearish Trend Remains

See the DailyFXQ2 FX forecast to learn what will drive the currency throughout the quarter.

USDCAD | Key Support Holding for Now

Despite last weeks topside breach of the 1.3520 level, failure to consolidate above has seen USDCAD return to its 2-month range with a test now on for a move below 1.34. Consequently, focus on the downside will be the 1.3350-70 zone in which the pare has previously found support. Momentum indicators have tilted to a bearish bias albeit modest so, which in turn could see any downside breaks meet strong support. As such, for a bearish momentum to build eyes will be on for a close below 1.3350, which in turn could open scope for a move towards the 200DMA situated at 1.3270.

USDCAD PRICE CHART: Daily Time Frame (Dec 2018 – June 2019)

Canadian Dollar Technical Analysis Overview: USDCAD, CADJPY

Chart by IG

CADJPY | Bearish Trend Remains

As we have continued to highlight, the trend in CADJPY remains bearish with yesterday providing another example that upticks have been short-lived. Momentum indicators in the short- and long-term timeframes continue to tilt to the downside. Consequently, the cross is now testing key support stemming from the 2017 and 2018 lows (80.50-65) having broken back below the 23.6% Fib level (80.82). As such, a closing break below will raise the risk of another test of the 80.00 handle as CADJPY looks to make a return to flash crash lows. On the topside however, resistance sits at 81.00, while the bearish momentum could abate somewhat providing the cross breaks above 82.00.

CADJPY PRICE CHART: Daily Time Frame (Aug 2018 June 2019)

Canadian Dollar Technical Analysis Overview: USDCAD, CADJPY

Chart by IG

--- Written by Justin McQueen, Market Analyst

To contact Justin, email him at

Follow Justin on Twitter @JMcQueenFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.