USD/JPY initially fell during the low volume session, only to bounce in the end. The resulting candle is a hammer, and this shows that the market is still trying to build pressure to the upside. The 80 level is a massive resistance level, but the real action is above the 80.60 area.
The CAD/JPY fell as well, but bounced from the 78.50 level as the oil markets look very healthy at this point. As long as there is tension with the Iranians, this pair could climb. The hammer than formed looks like a market that is ready to continue higher.
Create a FREE account