CADJPY - Bullish Bias
CAD - Weak Bullish
1️⃣ CAD remains supported by an increase in WTI crude oil prices.
2️⃣ The economy in Canada added as many as 157K jobs in September, easily beating market expectations for 65K growth. Meanwhile, the unemployment rate fell to 6.9% from 7.1% in the previous month, in line with market forecasts.
3️⃣ The inflation rate for September is projected to increase following a sharp spike in the price component in the IVEY PMI.
4️⃣ BOC is expected to announce lower asset purchases to 1 billion a week from 2 billion a week previously.
JPY - Strong Bearish
1️⃣ Positive risk tone weighing on the JPY.
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Technical
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We are buying the CADJPY after it bounced back at the support level.
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Risk to this trade
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Any change in sentiment could turn the pair's direction.
Don't forget to like, comment, and subscribe for more ideas.
1️⃣ CAD remains supported by an increase in WTI crude oil prices.
2️⃣ The economy in Canada added as many as 157K jobs in September, easily beating market expectations for 65K growth. Meanwhile, the unemployment rate fell to 6.9% from 7.1% in the previous month, in line with market forecasts.
3️⃣ The inflation rate for September is projected to increase following a sharp spike in the price component in the IVEY PMI.
4️⃣ BOC is expected to announce lower asset purchases to 1 billion a week from 2 billion a week previously.
JPY - Strong Bearish
1️⃣ Positive risk tone weighing on the JPY.
=====
Technical
=====
We are buying the CADJPY after it bounced back at the support level.
=====
Risk to this trade
=====
Any change in sentiment could turn the pair's direction.
Don't forget to like, comment, and subscribe for more ideas.
Trade active
Trade closed: stop reached
✅ TRADE HAS HIT BE+10 PIPS
JPY recovered from some of the losses as the European session opened lower.
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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.