USD/CAD looks as if it has broken out of a range on Monday, and ready to move upward. The pair is reflecting the "risk off" attitude of the markets well, and we think pullbacks could be buying opportunities as long as we stay above the 1.03 level.
USD/JPY has finally found some support. However, the trend is so bearish that it will be difficult to buy. We like buying closer to 75.50, the site of the last intervention by the Bank of Japan.
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