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NZDJPY Turnaround?

by Ashraf Laidi
Apr 13, 2009 14:56 | 3 Comments

NZDJPY Turnaround? - NZDJPY Apr 13 (Chart 1)

NZDJPY shows signs of ending its 9-week rally as it fails to close above the 59 figure, which is the 38% retracement of the decline from the high of May 2008 to the low of Jan 2009. Risks of a retreat in global indices on a flurry of earnings from US financials could provide the fundamental catalyst to the technical failure. As European bourses return to work on Tuesday, the threat of profit-taking may trigger sell-orders in high yielding FX pairs. Interim target stands at 57.00, followed by 56.10. Resistance stands at the 59.00.

 

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Comments (Showing latest 3 of 3) View All Comments
Chartvuze
salisbury, UK
Posts: 18
17 years ago
Apr 14, 2009 18:57
Thanks Ashraf
Ashraf Laidi
London, UK
Posts: 0
17 years ago
Apr 14, 2009 18:37
Chartvuze, CAD has been the suprirising gainer, rallying across the board, as stocks intensified their rally. Interestingly though, even as stocks dropped, CAD held on partly due to rising oil prices. I got the recent CAD calls awfully wrong. there must also be some M&A flows boosting CAD. Today's EURCAD candle loows quite negative, and we're at riks of touching the 200 day MA at 1.5970.

keep eyes on silver heading to 13.15

Ashraf
Chartvuze
salisbury, UK
Posts: 18
17 years ago
Apr 14, 2009 16:30
Hi Ashraf
going back in in time ref your imt 9th April what do you think is happening with EURCAD

Regards
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