CADJPY on the verge of break a bullish channel
I am positioning to buy CADJPY because of
> Potential bullishness in Oil price which is a plus for CAD
> Global improvement in containing COVID-19 which implies more economies will be opened and investors will start to dump safe haven like JPY.
I am not ruling out the weak legdown due to Hongkong Riots and Minneapolis Riots which will likely worry investors and improve price of safe havens (JPY and Gold). I think they will be for a short time and will provide opportunity to buy at the bottom.
> Potential bullishness in Oil price which is a plus for CAD
> Global improvement in containing COVID-19 which implies more economies will be opened and investors will start to dump safe haven like JPY.
I am not ruling out the weak legdown due to Hongkong Riots and Minneapolis Riots which will likely worry investors and improve price of safe havens (JPY and Gold). I think they will be for a short time and will provide opportunity to buy at the bottom.