CNHJPY 30th APRIL 2022

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Based on the COT reports released today, focusing on CNH and JPY CME Contracts, it can be seen that bigboys interest accumulated 73.2% renminbi long contracts and 20.7% renminbi short contracts. As for the Yen, they still tend to short contracts 46.1% which is much more than long contracts which are only 6%. It can be concluded that the big boys sentiment for the CNHJPY pair still tends to be bullish.
Technically, we can see that in April 2022 there was a bullish flag which was followed by a bullish pennant. Possibly in early May trading there was also a similar pattern. The bullish flag pattern is clearly formed, however, the continuation bullish pennant pattern has not yet been formed and possibly will be formed.

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