We have a major technical break in CAD/JPY this morning. The currency pair has broken below trend line support, the 50-day SMA and the 23.6% Fibonacci retracement of the year to date rally. Next stop could be 81.50. Lower oil prices are playing a big role in the move. Read all about it in my article today Currency Traders: All Eyes on Commodities [1]
Links:
[1] http://www.fx360.com/commentary/kathy/1432/currency-traders-all-eyes-on-commodities.aspx?num=1245678480316
[2] http://www.kathylien.com/site/wp-content/uploads/2009/06/cadjpy062209.jpg