Dollar Versus Loonie and Yen April 24th

FX Strategy Video > Currency Pairs Analysis

USD/CAD fell after first rising during the session on Monday. The parity level above has been very resistant, and the 200 day EMA above will continue to pressure the pair lower. However, the range between 1.01 and 0.98 is still holding, and until then - we only see scalps.

USD/JPY fell on Monday, but the overall picture still looks like a pair that has broken out. The 200 day EMA is below, the 80 handle is as well, and the 50% too. The 81 handle looks as if it caused a bounce, and we expect the Bank of Japan to crank up their asset purchase program this week - another form of easing. With this in mind, we see the pair going higher over time, and are buying dips.

Published on 23rd of April 2012
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