Usd/jpy

[JohnL]

Hello guys

I would like to hear your opinions about USD/JPY and USD/CAD, what do you think about those two, especially for short term - for the next few days. Right now USD/JPY is 123,86/90 and USD/CAD is 1,0683/89 as you know, what's your expectations for top and bottom level of those currencies for next week?

[Kyle An]

The IFO was much stronger than consensus so what happened was the EUR/USD got stronger and the low was 1.5628 and now it trades at 1.5733 with the HIGH at 1.5749.

That caused EUR/JPY to rise as the low was 161.566 and the HIGH was 163.176 and now it is at 162.86

What happens is the YEN is sold and the Euro is bought. A Carry trade movement. That is what caused USD/JPY to hit a HIGH of 103.711 about 5:30 AM

Bottom line whenever there is a substantial movement either way you need to do your homework to discover why it rose so you can understand if there has been a sunstantial movement in the fundamentals or just as IMPORTANT has the perception changed in the markets

[priya11]

According to the update given by Finexo Innovative Trading-Online Forex Trading, Currency Trading, Managed Account, Forex, Forex Demo, Economic Calendar. The continued drop in oil prices added up to $20 from the all-time peak of $147 hit on July 11. Furthermore, President George W. Bush threatened to veto a bill meant to salvage the housing market. These factors contributed to the reinforcement of the dollar.

The dollar received further support from the president of the Philadelphia Federal Reserve Charles Plosser who stated that the Fed might have no choice but to raise interest rates to counteract inflation. According to me, this reflects that market sentiment is now inclined to dollar buying.

The fact that the dollar managed to hold its position after breaking the 200 day moving average against the yen was considered a great supportive factor by analysts who stated that if the dollar manages to break the 108.59 barrier of mid June, it could reach up to 110.00 yen.

The dollar hit a new one-month peak of 107.99 yen throughout the day, but later stabilized at 107.78 after a decline of 0.2% from Wednesday due to selling by Japanese exporters.

Cheers