Hey Traders! 👋
For Day 28/100 of our challenge, we will look at CADJPY for upside potential this week/month
Technicals:
- Stuck in bullish range 104.8-103.6
- Mostly a fundamental-driven trade
- Engage in longs only when support above 104.8 is formed
Fundamentals:
- BoC surprise hike; regains status as hawkish CB
- BoJ meeting this week not expecting any shift from loose policy stance
- Rebound in commodity prices should help the CAD
Sentiment
- CAD also being net short for leveraged funds but JPY is a stronger short
- Retail positioning extreme short territory (we want to go against them)
That's it for today! A more in-depth view with technicals, fundamental, and sentiment.
This is 1/6 of our watchlist. What's in your watchlist?
Anyways, safe trading and see you tomorrow! 🥂
For Day 28/100 of our challenge, we will look at CADJPY for upside potential this week/month
Technicals:
- Stuck in bullish range 104.8-103.6
- Mostly a fundamental-driven trade
- Engage in longs only when support above 104.8 is formed
Fundamentals:
- BoC surprise hike; regains status as hawkish CB
- BoJ meeting this week not expecting any shift from loose policy stance
- Rebound in commodity prices should help the CAD
Sentiment
- CAD also being net short for leveraged funds but JPY is a stronger short
- Retail positioning extreme short territory (we want to go against them)
That's it for today! A more in-depth view with technicals, fundamental, and sentiment.
This is 1/6 of our watchlist. What's in your watchlist?
Anyways, safe trading and see you tomorrow! 🥂
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.