Upside risks have continued to pressure the Canadian Dollar higher against the Japanese Yen. The CAD/JPY currency pair has surged by 4.93% since the middle of April.
All things being equal, the exchange rate is likely to continue to trend higher during the following trading sessions. The potential target for bullish traders could be near the 92.00 level.
In the meantime, the currency exchange rate would make a brief retracement towards the 200– period simple moving average at 87.50.
