Intraday Market Thoughts

Archived IMT (2009.04.14)

by Ashraf Laidi
Apr 14, 2009 13:50

Unexpectedly large decline in US Mar retail sales (-1.1% vs exp +0.3%) weighs on US and global stocks and further boosts JPY across the board. USDJPY, NZDJPY, EURJPY and GBPJPY are all vulnerable to prolonged downside today. Stochastics in USDJPY suggests the pair will target the 200-day MA of 99, while. EURUSD, eyes the 100-day MA at 1.3190, followed by 4-week TL support at 1.3155. NZDJPY HotChart target eyes 57.70, followed by 56.10. EURJPY target at 130.30.


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