UncleBullFX

CADJPY | Decision time... | May 18

OANDA:CADJPY   Canadian Dollar / Japanese Yen
#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
Trade closed: target reached

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