Canadian Dollar / Japanese Yen
Long
Updated

CADJPY - Bullish Bias

49
CAD - BULLISH
1️⃣ Bullish sentiment across global markets prompted investors to buy riskier assets.
2️⃣ Coronavirus vaccination rollout is raising prospects of a swift economic recovery in the new year, although the pandemic is still far from controlled.
3️⃣ The Canadian economy advanced 0.4% in October, the 6th straight month of growth and the Manufacturing PMI for December was the strongest on record.
4️⃣ Rallied in oil prices boosted the CAD.

JPY - BEARISH
1️⃣ Prime Minister Suga Yoshihide is expected to impose a state of emergency later this week as Japan confirmed over 4,900 new infections on Tuesday, marking the highest daily tally yet.
2️⃣ The positive risk tone could pressure the safe-haven JPY.

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Technical
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We are looking to buy the CADJPY above the RBS + above SMA 50 on the H1 chart.
Order cancelled
Price has reached TP first.

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