Dollar Versus Yen and Loonie September 9th

FX Strategy Video > Currency Pairs Analysis

USD/JPY formed a hammer just above the 77 handle for the second day in a row on Thursday. This is a bullish sign, and with the world buying the USD in general, and the Bank of Japan willing to intervene, it appears that this pair is gearing up for a small short-term trade, maybe for about 150 pips.

USD/CAD rose on Thursday after filling the gap from the weekend. The pair is bearish overall, but will have to wait on the CL (Light Sweet Crude) futures contract to close over the $90 level to fall hard and continue the trend. The pair could be choppy, and would be hard to buy unless we close above the parity mark.

Published on 8th of September 2011
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