I've just entered a spur of the moment USD:CAD long at 0.9993 based on some of the following parameters.
Firstly, although not a major factor in this decision, this long position has the potential to act as a hedge against my existing GBP:CAD short position (showing a 10 pip profit as I type). Ultimately the real decision for the basis of this trade was made upon
Some of the most interesting Forex pairs over the last few Weeks have without doubt been those involving the Yen.
My recent coverage of AUD:JPY has made it quite obvious that this one has stood out as my favourite on the bullish side for "long" trades.
But what about the rest? Where do the other Yen based pairs stand in technical terms?
Well, I think they can be divided into 3 main groups