Loonie Versus Dollar and Yen September 29th

FX Strategy Video > Currency Pairs Analysis

USD/CAD pushed higher on Wednesday to reach the 1.03 levels. The hammer on Tuesday after a shooting star on Monday shows a classic bounce, then pullback - and then continued move upwards. However, we need to see the highs from Monday broken to the upside in order to buy, with a target of 1.05 at first, and 1.10 later.

CAD/JPY fell hard on Wednesday, and is running towards the lows again. However, with the Bank of Japan willing to intervene, you will have to keep an eye on the USD/JPY, as if it falls quickly - the BoJ will intervene.

Published on 28th of September 2011
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