Ride the CADJPY down a bit?

Short

Canadian Dollar / Japanese Yen (OANDA:CADJPY)

Updated

OANDA:CADJPY Canadian Dollar / Japanese Yen

supplyanddemand trendline parallelchannel

USOIL and UKOIL seem to be coming into some resistance, so I'm expecting the CAD (despite recent good news) to find some weakness here... This trade may take some time to play out, but we'll see. I'm going Short.

Comment:

Just checked out this week's calendar and it looks like CAD has a rate decision. CAD comments (along with comments from many other countries) have been somewhat dovish. This leads me to believe that the CAD may see a nice, perhaps even faster move down this week... The crowd was hyped up from the good economic #'s, but I'm calling bullshit and want to see that dovish CAD play out. CAD rate decision at 10A EST 12/6!

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