CADJPY - Bullish Bias

1 Nis 2021

CAD - BULLISH
1️⃣ WTI crude futures rose as much as 2% to $60.6 per barrel on Thursday.
2️⃣ Canadian manufacturing PMI for March is expected to jump as sentiment regarding production over the next 12 months remained upbeat.

JPY - BEARISH
1️⃣ Industrial output in Japan fell 2.1% mom in February, worse than expected.
2️⃣ Japan's housing starts dropped by 3.7% yoy in the month, the 20th straight month of fall.

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Technical
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We are looking to buy the CADJPY at 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.

1 Nis 2021

Emir iptal

DELETE PENDING ORDER

Declining oil prices weighing on the CAD as some of OPEC+ members want to hike the production.