Dollar Versus Kiwi and Yen June 4th

FX Strategy Video > Currency Pairs Analysis

NZD/USD fell most of the session on Friday, but formed a hammer to show support at the 0.75 level. The pair however is a highly risk correlated market and will continue to be a pair that we sell over time. The breaking and a daily close below the 0.75 level has us selling massively. The breaking of the 0.77 level should signal a higher move, but we think those moves will offer selling opportunities on weakness.

The USD/JPY pair fell again on Friday in reaction to the Non-Farm Payroll numbers, but the pair now sits on the 78 handle, a spot for serious support. The Bank of Japan is just below, so we are looking for supportive candles to buy.

Published on 1st of June 2012
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