CAD/JPY Strengthens on US Treasury Plan and Japan's Resilient Economy

The Canadian Dollar vs Yen (CAD/JPY) is trading at ¥115.45, up from the previous session, after remaining above its key moving averages.

The US Treasury's plan to double buyback operations for longer-dated bonds has weakened the US Dollar and strengthened the Japanese Yen, contributing to a concomitant strengthening of the CAD/JPY pair.

Japanese core machine orders for June beat expectations, signaling resilience in Japan's economy and adding support to the Yen. The data also reflects improved economic conditions that are influencing flows into the CAD/JPY cross.

CAD/JPY trades in a strong bullish trend near ¥115.25 with technical signals overbought and a projected range of ¥114.67 to ¥115.83 over the next 2 to 3 days.