Intraday Market Thoughts

Archived IMT (2008.11.17)

by Ashraf Laidi
Nov 17, 2008 17:19

Classic case of recovering risk appetite benefiting all higher yielders at expense of USD and JPY, with GBP standing as the biggest winner. USDJPY displays a late reaction to recovering risk appetite, attempting to breach short-term TL resistance at 97.30, after which emerges the key 97.80 barrier. On the 4-hour chart, USDJPY shows to test the top of a symmetrical triangle at 98.70. Support climbs at 96.20, backed by 95.20.


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