Dollar Versus Yen and Loonie August 10th

FX Strategy Video > Currency Pairs Analysis

USD/JPY gained for the session on Thursday as the 78 handle continues to offer support. The level has been rock solid, and we even think that the Bank of Japan is making that so. This market is a "buy only" one for us, and we are looking for a breakout to the upside as our signal. 78.75 becomes very interesting if we can hold above it.

USD/CAD fell during the session on Thursday to extend bearish momentum as the bottom of the downtrend channel is now firmly broken through. The pair looks set to continue falling until we hit the next major support level as the 0.97 handle.

Published on 10th of August 2012
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