CAD/JPY LONG
To start with we fundumentally know that CAD is really related to OIL prices and we also know about Japanese problems with Tax Reform Proposals. On a chart we can see a huge spike up on Thursday due to increase in OIL prices which broke my trend line, however it come back on Friday because bears take their step on Oil market.
In the end i would put a long position because of few reasons:
1st Opec forced to reduce supply of oil in Opec countries which will cause increase in Price (good for CAD)
2nd Technically price on CAD/JPY nearly touched support line and we can clearly see that price range is still in uptrend channel
3rd On a long term Japanese yen is a less strong investment because Japanese population is falling and its dependecy ratio is rising. (bad for JPY)
In the end i would put a long position because of few reasons:
1st Opec forced to reduce supply of oil in Opec countries which will cause increase in Price (good for CAD)
2nd Technically price on CAD/JPY nearly touched support line and we can clearly see that price range is still in uptrend channel
3rd On a long term Japanese yen is a less strong investment because Japanese population is falling and its dependecy ratio is rising. (bad for JPY)
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