Forex News Weekly - USDJPY – USDCAD

[Exto Capital]

As of this week, you can read Exto Capital's weekly Forex News every Monday.

This news contains a retrospective of the past week and an analysis for the upcoming week.

This week the analysis focuses on USDJPY and USDCAD.

Here is an Extract:

"USD/JPY

In the currency markets, the USD/JPY continued to grind higher on solid technicals and the finance minister threat of foreign exchange intervention. The dollar lost ground throughout the week again most major currencies, but gained against the Yen, as it is also seen as a safe haven currency. The USD/JPY tested the 20 day moving average during the course of the week, but support near 90 was able to attract buyers of the currency pair. During the course of the week, the 5 day moving average of USD/JPY crossed over the 20 day moving average of USD/JPY drawing technical traders into long positions. Looking forward, the top end of the recent range is 91.75, which has proven to be solid resistance should be a battleground for longs and shorts.

"

Exto Capital

[Amna Joseph]

In Japan, growing exports continue to be the economy's saving grace and, although Japan isn't out in the clear just yet, the yen has been able to post improvements against the dollar. The USD/JPY forex trading pair traded at a low of 93.64 and a high of 94.37.