Instrument: CADJPY
Bullish Preference:
A buy position is envisaged if the price trades above 107.484 with take profit at 107.618
Bearish Preference:
A sell position is envisaged if the price trades below 107.101 with take profit at 106.955
Fundamentals:
1:30pm CAD Core Retail Sales m/m CAD Retail Sales m/m
Comment:
CADJPY braces for the top-tier Canada and the US catalysts ahead of Wednesday’s European session. In doing so, the Loonie pair justifies the recently firmer price of WTI crude oil, Canada’s key export item, as well as the inactive US Dollar Index.
Analysis: SCRUM Team