CADJPY | Decision time... | May 18
#CADJPY 2H
Favoring the bullish scenario.
This pair is now at a decision point. We have two scenarios prepared and ready to execute.
From a fundamental PoV, the increasing OIL prices will soon start to give the CAD currency some strength. Which will drive most CAD pairs up, including this CADJPY pair.
From a technical perspective, the pair is ranging between two trendlines and it is getting close to breaking one of them. Whichever breaks first will decide what comes next...
📰 Fundamentals to watch:
- Consumer Price Index m/m (Wed)
- Core Retail Sales m/m (Fri)
Risk Only: 2-3%
Good Luck
Favoring the bullish scenario.
This pair is now at a decision point. We have two scenarios prepared and ready to execute.
From a fundamental PoV, the increasing OIL prices will soon start to give the CAD currency some strength. Which will drive most CAD pairs up, including this CADJPY pair.
From a technical perspective, the pair is ranging between two trendlines and it is getting close to breaking one of them. Whichever breaks first will decide what comes next...
📰 Fundamentals to watch:
- Consumer Price Index m/m (Wed)
- Core Retail Sales m/m (Fri)
Risk Only: 2-3%
Good Luck
Trade closed: target reached