Archived IMT (2009.06.22)
CADJPY's break of its 6-month trend line support has been confirmed as per last week's HOTCHART http://www.ashraflaidi.com/hot-chart/?a=763 . Nikkei-225 CFDs indicate a 220-pt decline on the open, which is helping to intensify the sell-off in AUD, CAD, NZD and GBP vs USD and JPY. USDCAD eyes near term objective at 1.1590, followed by 1.1650. While the selling was attributed to the WB's report on the world economy, Russian and Indian indices were already in the red. The gap up in the VIX to 31 reflected rising fear in the market, but a close above 33 is required.
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