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CADJPY - BEARISH BIAS (1:1 RISK REWARD)

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CAD - BEARISH
1️⃣ WTI oil prices extended the decline in the morning trade in the US, falling more than 2% to below $42 per barrel amid increasing doubts over a recovery in fuel demand after the Fed painted a gloomy outlook for the US due to the coronavirus crisis.
2️⃣ OPEC said that a second prolonged wave of the coronavirus is a major risk for the recovery in the oil market.

JPY - BULLISH
1️⃣ Investors moved into the safe-haven Yen as minutes from the Federal Open Market Committee revealed concerns about the US economic recovery.

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TECHNICAL
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- We shorting this pair on breaking of current support level in M30 chart + SMA100 area.
- CADJPY in bearish zone.

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RISK TO THIS TRADE
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- This trade tends to hit stop loss if current market sentiment switch to risk appettite mode.

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MONEY MANAGEMENT
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- Please use only 1-2% risk per trade from your equity.

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