Intraday Market Thoughts

Archived IMT (2010.03.08)

by Ashraf Laidi
Mar 8, 2010 0:01

Its all about yen weakness in Asian trade as the combination of improved risk appetite after better than exp US jobs report and public statements from Japanese officials (adding to QE and allocating budget for FX intervention). CADJPY and NZDJPY among the best performing pairs, eyeing prelim targets at 88.50 and 63.90. Weekly candle in CADJPY was particularly bullish, suggesting the possibility for 89.40 especially amid the absence of key data in Mon and Tues. USDJPY eyes interim resistance at 91.35-0.


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