Years of downtrend has been broken and we are set to have new highs.
As vaccination gains acceleration, commodities should see a demand boost(already happening, see Oil). In contrast, risk-off currencies like Japanese Yen should lose its attractiveness also given deflation risks arising in Japan and Bank of Japan being aggressively loose(bad for JPY).
All in all, commodity exporter country (CAD) should gain value against risk-off currency(JPY). Bullish on CADJPY!
Stop Loss: Below 80
First Take Profit: 85
Second Take Profit: 88.7
Risk Reward: 2-3
As vaccination gains acceleration, commodities should see a demand boost(already happening, see Oil). In contrast, risk-off currencies like Japanese Yen should lose its attractiveness also given deflation risks arising in Japan and Bank of Japan being aggressively loose(bad for JPY).
All in all, commodity exporter country (CAD) should gain value against risk-off currency(JPY). Bullish on CADJPY!
Stop Loss: Below 80
First Take Profit: 85
Second Take Profit: 88.7
Risk Reward: 2-3
Trade active
Going up !!!
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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.