CADJPY - Bullish Bias
CAD - BULLISH
1️⃣ WTI crude futures rose as much as 2% to $60.6 per barrel on Thursday.
2️⃣ Canadian manufacturing PMI for March is expected to jump as sentiment regarding production over the next 12 months remained upbeat.
JPY - BEARISH
1️⃣ Industrial output in Japan fell 2.1% mom in February, worse than expected.
2️⃣ Japan's housing starts dropped by 3.7% yoy in the month, the 20th straight month of fall.
=====
Technical
=====
We are looking to buy the CADJPY at support + above SMA 50 on the H1 chart.
=====
Risk to this trade
=====
Any change in sentiment could turn the pair's direction.
1️⃣ WTI crude futures rose as much as 2% to $60.6 per barrel on Thursday.
2️⃣ Canadian manufacturing PMI for March is expected to jump as sentiment regarding production over the next 12 months remained upbeat.
JPY - BEARISH
1️⃣ Industrial output in Japan fell 2.1% mom in February, worse than expected.
2️⃣ Japan's housing starts dropped by 3.7% yoy in the month, the 20th straight month of fall.
=====
Technical
=====
We are looking to buy the CADJPY at support + above SMA 50 on the H1 chart.
=====
Risk to this trade
=====
Any change in sentiment could turn the pair's direction.
Order cancelled
DELETE PENDING ORDERDeclining oil prices weighing on the CAD as some of OPEC+ members want to hike the production.
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.
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.