USD/JPY: Live Coverage Trade Update
In our FOMC Meeting live coverage on YouTube yesterday, we sent out a short signal on USD/JPY around 25 minutes after the decision and right before the press conference.
USD/CAD has rebounded
Information is not investment advice
USD/CAD has been trading sideways between 1.3510 and 1.3367 for the past month. Yesterday it made a sharp rebound from the bottom of this range and now may test its top. An advance above 1.3367 (March high) will open the way up to the 1.3500/10 area. The long-term trend remains bullish.
The US dollar is helped by the demand for it as a safe haven and the lack, while the Canadian dollar is pressured by the declining oil prices after another weekly increase in the US crude stockpiles.
Elizabeth Belugina
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