CADJPY - Bearish Bias

🇨🇦 CAD - Strong Bearish
1️⃣ Risk-off sentiment and declining oil prices weighing on the CAD.
2️⃣ Canadian GDP shrank 0.3% on quarter in Q2 2021.
3️⃣ Canadian trade balance for July is expected to decline.

🇯🇵 JPY - Strong Bullish
1️⃣ The JPY benefits from a risk-off market environment.

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Technical
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We are selling the CADJPY after it failed to break the resistance of 87.400.

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Risk to this trade
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Any change in sentiment could turn the pair's direction.

Trade attivo

Trade chiuso: stop raggiunto:

❌ TRADE HAS HIT SL

-50 PIPS

Risk-on tone during Asian session support the high-beta currencies.