CAD/JPY Big Trade +72

BK CAD/JPY Big Trade

Place Order to Sell 1 lot CAD/JPY at 97.30

Place Order to Sell 1 additional lot at 99.35

Stop 100.40

The first trade that we are laying out post-referendum is CAD/JPY. Oil prices have been hit hard by the no vote, we expect increased uncertainty and risk aversion. Last week’s softer GDP numbers and this week’s Canadian economic reports will most likely highlight the vulnerabilities of Canada’s economy. The Fed could also delay tightening which would drive USD/JPY and hence CAD/JPY lower. The biggest beneficiaries during these times of uncertainty is always the Yen.

Swing

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