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.
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.