TRADING TIPS :
USD/JPY hit 120.19 during European
afternoon trade, the pair’s highest since December 9; the pair
subsequently consolidated at 120.14.The pair was likely to find
support at 118.80, the low of December 19 and resistance at 121.00The
U.S. dollar held steady against the yen on Tuesday, hovering at
two-week highs and within close distance of a seven-year peak as
expectations for a U.S. rate hike in 2015 continued to support demand
for the greenback.The dollar remained broadly supported after the
Federal Reserve signaled last week that it was on track to raise
interest rates next year but said it was taking a patient stance.The
yen shrugged off the Bank of Japan’s Monthly Report on Recent
Economic and Financial Developments,
INTRADAY
OUTLOOK
Support:
120.30
Resistance:
120.85
RECOMMENDATION:
1.
Buy USD/JPY Above 120.90-TG:1.121.10/121.40 SL 120.60
2.
Sell USD/JPY Below 120.25-TG:1.120.05/119.75 SL 120.55
INTRADAY
OUTLOOK
Immediate
Support: 1.1610
Immediate
Resistance: 1.1650
RECOMMENDATION:
1.
Buy USD/CAD Above 1.1655-TG:1.1675/1.1705 SL 1.1625
2.
Sell USD/CAD Below 1.1605-TG:1.1585/1.1555 SL 1.1635
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