CADJPY: Breakout Confirms Bullish Momentum, Targeting 114.00
The Canadian dollar is strengthening against the Japanese yen, fueled by rising oil prices. As a major oil exporter, Canada benefits from the current bullish trend in the oil market, while Japan, a major importer, faces higher costs. This positive correlation between oil and CADJPY is evident in the recent price action. A double bottom pattern has been broken, signaling further upside potential with a target of 114.00.
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