Dollar Versus Yen and Loonie June 9th

FX Strategy Video > Currency Pairs Analysis

The USD/JPY has broken the all-important 80 mark, a serious support level. It should be noted however that the area hasn't given way completely, and the daily candle looks a whole lot like a hammer. Because of this, we could see a bounce. (Let us not forget the central banks waiting below either!) The USD/CAD continues to grind between the 0.97 and 0.9850 areas. The pair is approaching a major down trend line, and will have to make a decision soon as the range has been too tight and restrictive.

Published on 8th of June 2011
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