OctaFX | OctaFX Forex Broker
Open trading account

Forex Flash: CAD/JPY, risk of broader correction growing – TDS

FXstreet.com (Barcelona) - CAD/JPY is last at 92.47, about flat for the week, but recovering on BoJ Kuroda's comments from recent fresh 2-week lows at 91.46, following recent pressure in the cross, TD Securities Toronto FX Research Team say.

In the bigger picture though, “the cross is consolidating between 88.40/94.50 but weekly price signals suggest that the medium-term CAD/JPY rally has stalled (two consecutive weekly “doji” candles now),” the analysts add, “and the risk of a broader correction may be growing,” they suggest. “Trend support at 91.10 may come under more pressure,” the Team advances, concluding: “Key support is 88.40 (range low and 94.50 double top trigger).”

Forex Flash: Less FED accommodation supportive for USD - RBS

According to Greg Gibbs, FX Trading Strategist at RBS, many believe “that the Fed is continuing its very accommodative policy for a long time yet.” But instead, he thinks that “the incremental shift is towards less accommodation,” the analyst says, “and the result should be seen as a net positive for the USD,” Greg suggests.
Read more Previous

Forex: EUR/USD takes a breather below 1.2900 following EU's Dijsselbloem words

Another slow session in Asia-Pacific as usual when previous London and New York sessions make big moves, with EUR/USD last at 1.2869, inside of a tiny trading range of 8 pips for almost last 3 hours, off late NY session lows at 1.2842, and capped to the upside below session highs at 1.2872. The pair is down -0.92% for the week so far, down from yesterday's weekly highs at 1.3050 following EU's Dijsselbloem comments post Cyprus bailout deal agreement.
Read more Next
Start livechat