USD/JPY had a strong session as the consolidation continued on Tuesday. We are currently sitting just below the 80 level, and we think that pressure is building to push this pair higher. With the Non-Farm Payroll number coming out in a few days, this market could be quiet.....for now. However, we think Friday should move this pair - possibly for the long-term?
The USD/CAD broke down a bit on Tuesday, and it managed to fall below support at the 1.0150 level. The oil markets broke out too - so this move makes sense. We see it at the parity level soon.
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