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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