Intraday Market Thoughts

Archived IMT (2009.07.08)

by Ashraf Laidi
Jul 8, 2009 16:41

Our sub-93 target in USDJPY has materialized amid the battering in JPY crosses as risk appetite is damaged globally with S&P500 falling below the key 877, oil breaks below 61.80, all to the benefit to the USD against all currencies with exception of JPY, which is the main winner. Gold tests 910,with next key support at 900, followed by 200-day MA at 870. GBPUSD eyes next support at 1.5940.


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