CADJPY - Bullish Bias
CAD - BULLISH
1️⃣ The Bank of Canada (BoC) held its interest rate unchanged at 0.25% during the April meeting, as widely expected, however, the bank said it will adjust weekly net purchases of Government of Canada bonds to a target of CAD 3 billion from CAD 4 billion, effective the week of April 26.
2️⃣ Oil prices rose on Monday after a major cyberattack forced the shutdown of fuel supply pipelines in the US.
JPY - BEARISH
1️⃣ A modest pick-up in US Treasury yields could undermine the JPY.
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Technical
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We are buying the CADJPY on support + above SMA 50 on the H1 chart.
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Risk to this trade
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Any change in sentiment could turn the pair's direction.
1️⃣ The Bank of Canada (BoC) held its interest rate unchanged at 0.25% during the April meeting, as widely expected, however, the bank said it will adjust weekly net purchases of Government of Canada bonds to a target of CAD 3 billion from CAD 4 billion, effective the week of April 26.
2️⃣ Oil prices rose on Monday after a major cyberattack forced the shutdown of fuel supply pipelines in the US.
JPY - BEARISH
1️⃣ A modest pick-up in US Treasury yields could undermine the JPY.
=====
Technical
=====
We are buying the CADJPY on support + above SMA 50 on the H1 chart.
=====
Risk to this trade
=====
Any change in sentiment could turn the pair's direction.
Trade active
Trade closed manually
CLOSE MANUALLY ON 89.900 AREA+14 PIPS
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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.