Date Posted: 22 Nov 2019
Ccy Pair: CADJPY
Trade Action: BUY
Order Type: Limit Order
Execution: Ichimoku Trader
Trade Parameters – PENDING
Stop Loss 81.68 -28 pips
Take Profit 82.80 +84 pips
Chart & Forecast Details
The BOC Gov already has the CAD rallying after recent comments about no immediate rate cuts. On top of that Oil is rallying back $58 and that should put upward pressure on CADJPY. The good news is it doesn’t look like CADJPY has caught up with this move yet. So strong Canadian retail sales data could be the catalyst for a move through the top of the Ichimoku cloud at 81.85.
Key Trade Day: Friday 22nd Nov – CAD Retail Sales
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