Wednesday, April 4, 2012

Forex pairs to observe-4.3.2012--

Nzd.Jpy & Cad.Jpy

Both pairs have formed triangles on the 4H ready to break out. Cad.Jpy broke out towards the north today and I anticipate the bullish momentum to pick up after the retracement is over. It will most likely find support around 83.00. If and when the bulls take charge they will be after 84.12 and 84.95. Nzd.Jpy is on its way towards the north also trying to break out, the bulls will have to take out 68.47 to confirm the move north, proceed with caution otherwise. The bulls in this pair will be after 69.12.

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