Dollar Versus Yen and Loonie January 5th

FX Strategy Video > Currency Pairs Analysis

USD/JPY fell slightly during the Wednesday session, but is currently running into massive support. We think that the real support starts now, and it will be difficult to sell at this point now. Bank of Japan has been quiet lately, but one has to think they will be heard from soon.

USD/CAD had a quiet day, even if it did form a bit of a shooting star. The candle suggests that the bearish pressure could continue. However, we are sitting right on support, and this pair looks sloppy to say the least.

Published on 4th of January 2012
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