Intraday Market Thoughts

Archived IMT (2009.07.21)

by Ashraf Laidi
Jul 21, 2009 18:16

As we warned today, stocks head lower, bond yields drop over 15 bps, and oil breaks below $64, prompting a broader unwinding of yen-carry trades. GBPJPY, AUDJPY and NZDJPY eye 151.90, 74.60 & 59.70 targets into Asian trade. USDCAD offers hope to the bulls as it's likely to close above the key 1.1030 support. Readers of last weeks article saw the trend line resistance of AUDJPY and NZDJPY hold up at 77 and 62. USDJPY is now fully resuming selling momentum after confirming the validity of the downtrend mentioned in the latest HotChart. Our Dojis on AAPL and YHOO warned on twitter site are now fully in play


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