CNHJPY 30th APRIL 2022Based on the COT reports released today, focusing on CNH and JPY CME Contracts, it can be seen that bigboys interest accumulated 73.2% renminbi long contracts and 20.7% renminbi short contracts . As for the Yen , they still tend to short contracts 46.1% which is much more than long contracts which are only 6% . It can be concluded that the big boys sentiment for the CNHJPY pair still tends to be bullish .
Technically, we can see that in April 2022 there was a bullish flag which was followed by a bullish pennant . Possibly in early May trading there was also a similar pattern . The bullish flag pattern is clearly formed, however, the continuation bullish pennant pattern has not yet been formed and possibly will be formed .
