USDJPY
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NY Morning Forex Commentary for FXStreet.wmv
April 24th, 2010 by admin | No Comments | Filed in forex indicator analysisThe dollar corrected today in London after the strong rise. The EURUSD was boosted by the extension of emergency collateral passed 2010 by ECB Trichet. However, the pair could not make its way to the 38.2% of the weeks range for the pair which is bearish. With slower growth from austerity programs likely in some Eurozone economies, this may be the impetus for a more bearish EURUSD. However, we will still be watching the technicals for clues. The GBPUSD was propelled higher by better Retail Sales data, but held key 100 hour MA resistance. This keeps the bears in charge but the market continues to consolidate. The USDJPY broke above the 200 day MA yesterday (currently at 91.55). Staying above this level should keep the pair support. The USDCAD is testing 100 hour MA support today at 1.0188. .
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