Dollar Versus Yen and Loonie May 23rd

FX Strategy Video > Currency Pairs Analysis

USD/JPY had a bullish session on Tuesday in order to slam into the 80 handle yet again. With the Bank of Japan having a meeting today, there is a chance for fireworks in this pair. However, we see massive resistance to the 80.60 level, and we will buy on a close above that level. As for selling - we won't.

The USD/CAD pair bounced for the session on Tuesday, and recaptured most of the losses from the Monday session. The pair should continue to rise over time as the oil markets continue to suffer. On pullbacks, we like buying this pair.

Published on 22nd of May 2012
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