FX:CADJPY   Canadian Dollar / Japanese Yen
CAD saw weakness yesterday due to demand concerns in crude, so we have seen a sell off in oil and in the CAD but still my opinion is that this is just an exhaustion after a major move to the upside in oil and in the CAD. As the world starts to open up, demand in oil will increase and so will the strength of the CAD. The CAD has been the strongest currency for a few weeks now and the JPY has been the weakest for some weeks, so fundamentally this is the best currency to be in. when we see a move to the upside, breaking or weekly zone (yellow zone) we will look for exhaustion and entry confirmation for a long position to our monthly zone.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.