Trade view /
22 July 2016 at 10:57 GMT
The original Trade Idea
anticipated a topside breakout in CADJPY. That move happened, but it was very shallow.
The trade took a turn for the worse with Japanese Finance Minister Kuroda's comments on Thursday. He crushed expectations of aggressive stimulus from the Bank of Japan, and USDJPY plunged. Meanwhile, very soft oil prices lifted USDCAD.
Mr. Kuroda and oil drove CADJPY lower, and the stop loss was triggered for a loss of 0.80 points.
Buy: 1/2 position of CADJPY at market (81.62), balance at 81.12.
Time horizon: 8 days.
— Edited by D. Deacon
Non-independent investment research disclaimer applies. Read more