FX

USD/JPY peaked for medium term

USD/JPY has peaked in the medium-term according to Nikolas Baptiste of the Technical Analysis Group (TAG). The recent decline to the current level they describe as the ‘doorway to the downside’ at 100.75 with the more recent bounce merely a short-term correction.

USD/ARS should top at 8.25-55

USD/ARS looks to be taking some time to consolidate the parabolic move near 8.00 but should look to top at around 8.25/55 over the next one to two months, says Rob Zukowski at 4Cast. A reversal should then see the market return to where it started the sell-off at 6.80/7.00.

CAD to target 1.0738 for further gains

1.0738 is the next key level to watch for the Canadian dollar, according to George Davis at RBC Capital Markets, following last year’s break above the 2010 quintuple top at 1.0679. With the current uptrend still in place, the 2010 high of 1.0854 is also a major resistance level to watch.