USD/JPY had a bearish day on Thursday, but managed a bounce to form a hammer-like candle. The 50% Fibonacci level held for the third time in the last couple of weeks, and as a result it looks as if the 0.82 handle could be a new floor of sorts. A break of the top of the Thursday range would be enough to have us long.
The USD/CAD pair poked through the parity level on Thursday as the oil markets fell hard. The pair looks very bearish all of the sudden as the 200 day EMA is just above the shooting star that we formed. However, it won't be a straight shot down either.
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