Favoring the 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 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%