Long CADJPY Trade
There is an interesting pattern forming on the 4hr CADJPY chart, and the pair looks very bullish at the moment. There could be a small flag in the short-term, so that could be a good opportunity to get into the trade and stay in the trade for the next few weeks.
Ahead of both the BoJ monetary policy statement as well as the Japan's central bank's interest rate decision, there could be some potential downside, but the larger trend is to the upside. The Canadian economy has been showing signs of more robust growth during the last several months, so we expect this to continue moving forward into July and August.
Ahead of both the BoJ monetary policy statement as well as the Japan's central bank's interest rate decision, there could be some potential downside, but the larger trend is to the upside. The Canadian economy has been showing signs of more robust growth during the last several months, so we expect this to continue moving forward into July and August.
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