Dollar Versus Loonie and Yen March 6th

FX Strategy Video > Currency Pairs Analysis

USD/CAD rose during the session on Monday as the oil markets essentially sat still. The area it is entering however, is a significant resistance zone. This market is so full of various support and resistance levels, it is going to be very difficult to trade until we break above 1.01, or possibly below the 0.97 level.

The USD/JPY fell for most of the day, but bounced late in the session to form a candle. The 0.8150 level looks as if it wants to act as support going forward. The 80 level continues to be key in this pair, and as long as it holds - we should continue to see buying opportunities.

Published on 5th of March 2012
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