I was looking out for news on the Japanese economy from Kuroda last night, as I posted yesterday, but nothing new came out. Dovish rumours have boosted the Nikkei and apparentlyand only alledgedly there was some heavy institutional selling on the USDJPY which pushed it back down under 102. The USD was generally weaker overnight. Moves on the USDJPY are currently capped by the 55hma squeezing it on the 102. A break of this hma would be bullish, targetting the 102.33 level. CHFJPY is at interesting position on the daily wedge and looks bullish on the 55dma, this pair often acts as a leading indicator for the USDJPY.
AUDCAD is back at the short-term trend line and support. This could make a great entry as highlighted on previous posts but the Loonie is bound to have some movment on the back of the CPI data at 13.30 today…. even if volumes are down there can be volatility. On the Loonie pairs there is little activity this morning and similar on the Aussie, so I am waiting for the data release for direction and better entries.