CADJPY - Bullish Bias

CAD - Weak Bullish
1️⃣ Rising crude oil prices support the strength of CAD.
2️⃣ In August, Canada’s trade surplus increased to CAD 1.94 billion, from CAD 0.74 billion in the previous month, and surpassed the market forecast of a CAD surplus of 0.43 billion.
3️⃣ Canada’s IVEY PMI is forecast to rise in September following the easing of restrictions.

JPY - Strong Bullish
1️⃣ The fall in global stocks gave strength to the safe-haven currency JPY.

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Technical
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We are looking to buy the CADJPY if the risk sentiment turned positive, with a reversal pattern in price action.

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

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