USD/JPY sits still yet again as the Bank of Japan keeps threatening the market as the Yen rises in value. Because of this, we don't like selling this pair.....but nobody wants to buy. We will be watching the longer-term charts such as the weekly or monthly to get our signal now.
The USD/CAD pair fell below the all-important 0.98 support level on Monday, and appears that it is ready to fall. This makes sense as the Light Sweet Crude markets rose over $2, and this creates demand for the Canadian dollar. We are sellers, and especially so if the Monday lows.
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