Lovely long opportunity for CADJPY

29 ביוני 2018

Looking at this pair and comparing it to Crude Oil we notice a correlation of some sort. With the robust rally of oil on Friday we should expect CADJPY to follow suit as it has with a sharp rally during the intraday trading hours of Friday. Taking that CAD being one of the largest producers of crude oil and JPY being one of the largest importers, we should definitely see a nice play out to the upside as oil prices continue to rally. Im expecting an exhaustion of some sort on Monday and then a continuation to the next zone. ( or a very sharp continuation onwards.