The recent CADJPY bull flag trade has now triggered. The market broke out above the bear channel top and has now breached the 102.17 level. With MACD and RSI turned bullish the focus is on a continuation higher towards the 105.33 level. The driver behind the current move is primarily JPY weakness amidst USD strength and better risk appetite. While this theme continues we can expect the pair to continue higher. Yesterday’s BOC rate hike has also helped lift the pair. With the BOC hiking by .5% and signalling further such hikes to come over the year, the divergence between the BOC’s policy stance and the BOJ’s means ... (full story)