USD/CAD fell during the Thursday session initially, but managed to get a pop towards the later hours. The resulting candle is a hammer at the top of the recent upward action. This suggests that perhaps traders are buying on the dips – and so are we.
The USD/JPY pair had a slight fall during the session on Thursday, and remains under tremendous pressure. The Bank of Japan will certainly intervene if it falls again – but not near these levels. In other words, selling rallies should continue to work.
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