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4 Feb 2015
CAD/JPY falls as Crude prices decline
FXStreet (Mumbai) - The CAD/JPY pair snapped a two-day rally, as the pair retreated today, tracking losses in the Crude prices.
CAD weakens as Crude resumes decline
Crude prices in the US fell more than 4.5% to USD 50.53/barrel as supply concerns resurfaced. The slide in Crude prices pushed the USD/CAD pair higher 0.57% to 1.2487 levels. Moreover, the pair recovered from the low of 1.2391 after Crude oil resumed the fall in the Asian session today.
Meanwhile, the USD/JPY pair trades 0.13% lower at 117.44 levels. The Japanese yen has been resilient despite the rise in the Treasury yields. Consequently, the CAD/JPY pair fell 0.67% to trade at 94.07 levels.
CAD/JPY Technical Levels
The immediate support is seen at 93.83 (10-DMA) levels, under which losses could be extended to 93.33 (5-DMA) levels. Meanwhile, resistance is seen at 94.20 and 95.00 levels.
CAD weakens as Crude resumes decline
Crude prices in the US fell more than 4.5% to USD 50.53/barrel as supply concerns resurfaced. The slide in Crude prices pushed the USD/CAD pair higher 0.57% to 1.2487 levels. Moreover, the pair recovered from the low of 1.2391 after Crude oil resumed the fall in the Asian session today.
Meanwhile, the USD/JPY pair trades 0.13% lower at 117.44 levels. The Japanese yen has been resilient despite the rise in the Treasury yields. Consequently, the CAD/JPY pair fell 0.67% to trade at 94.07 levels.
CAD/JPY Technical Levels
The immediate support is seen at 93.83 (10-DMA) levels, under which losses could be extended to 93.33 (5-DMA) levels. Meanwhile, resistance is seen at 94.20 and 95.00 levels.