USDCAD and CADJPY Analysis Ahead of BoC Interest Rate Decision

With the Bank of Canada (BoC) interest rate decision approaching, we analyse USDCAD and CADJPY using the Daily and H1 timeframes to uncover potential trading opportunities.

Market Outlook:

CADJPY:
The overall market structure appears bearish following a completed wave pattern and a corrective wave. We anticipate further downside movement, signalling potential short-selling opportunities.

USDCAD:
The pair remains strongly bullish, with expectations for the current uptrend to continue. However, a potential wave-structure pullback on the Daily chart could provide a favourable buying opportunity.

Stay blessed and happy trading!