CANADIAN DOLLAR vs JAPANESE YEN (LONG)

11 Agu 2021

An interesting fifth wave scenario is forming up on this pair as prices are heading towards the end of this correction. Expecting to see strong bullish mommentum for the next two to three weeks as most economies reopen, increased investor risk appetite causing movement of capital/assets from safe heaven currencies to much riskier ones for much better returns. Mean while the Canadian inflation reports will be a key look out next week as last month Canada reported a slight decline in Core inflation and Consumer Prices 0.3% less than expected but this is mainly due to the fact that Gasoline prices rose to a lesser extent in June compared to May 2021. Already in long position looking for more positions on lower timeframes,