WTI crude oil suffered some historical volatility overnight. A day ahead of expiration, WTI crude oil futures for May slumped into deep negative at -40.32, then turned positive in Asian session. However, Canadian Dollar, while generally weak, isn’t much bothered.
CAD/JPY is staying in consolidation pattern from 73.86. With this week’s decline and break of 75.93 minor support, intraday bias is mildly on the downside for retest 73.86 low. On the upside, break of 77.08 could bring another rise to retest 38.2% retracement of 84.74 to 73.86 at 78.01, to extend the consolidation.
