CADJPY may enter into bullish phase

CADJPY may enter into bullish phase

In seasonal trends, late November typically supports bullish momentum in the CAD. Commitment of Traders (COT) data indicates an increase in CAD/JPY, with non-commercial flip data favoring CAD's strength. Overall, endogenous factors sentiments currently show greater support for CAD compared to JPY. However, CAD's endogenous factors are declining at a faster rate than JPY's. On the other hand, exogenous factors and leading economic indicators are strengthening CAD/JPY. Specifically, exogenous factors are on the rise, driven by an improvement in the balance of payments for CAD/JPY.