Intraday Market Thoughts

Archived IMT (2009.04.14)

by Ashraf Laidi
Apr 14, 2009 19:16

JPY crosses appearing increasingly bearish. USDJPY 98.80 target already hit and NZDJPY on its way. Daily candles on AUDJPY, EURJPY and CADJPY show negative engulfing pattern. Last hour of US equity trading usually involves a pick-up in volumes and clasing of positions in FX, which could speed up unwinding in high/low yielding FX pairs. JPY is the day's strongest perfomer, while NZD stands at other extreme losing against all FX. Watch the daily stochastics on the Nikkei-225 and the 8,770 mark.


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