Oil Spike Lifts CAD/JPY After Israel's Attack on Iran

CAD/JPY  holds above 106 as crude oil gained sharply after Israel attacked Iran. It hit an intraday high of 106.045 and is currently trading around 106.047.

"Operation Rising Lion" was launched by Israel on June 13, 2025, as a massive military operation against Iran, which aimed at bombing nuclear facilities and damaging military infrastructure. It reportedly resulted in the deaths of several senior Iranian leaders, including the IRGC commander and Chief of Staff of the Armed Forces.

Technical Analysis

CAD/JPY is currently trading above the 34- and 55-EMA on the 4-hour chart. The immediate resistance is at 106.35; a breach above this level could shift targets to 107/108.25. On the lower side, near-term support is at 105.75, and a break below this support could lead to declines toward 105.30/104.80/104.50/103.85/103/102.50/10.65/101/100.

Indicator Trends

 CCI (50)- Bullish

ADX (14)-  Neutra

Trading Strategy Recommendation

It is good to buy on dips around 105.75-78 with a stop-loss at 105 and a target price of 108.