The strongest weakest currencies as NA traders enter for the day

16 June 2016, 15:04
Sherif Hasan

June 16, 2016. The JPY is the strongest. The CAD is the weakest.

The BOJ kept rates unchanged. The stock markets are lower. The JPY pairs all have declined.  that makes the JPY the weakest currency in the bunch. 

The USDJPY fell below the trend line, and was kicked lower on the BOJ decision falling all the way to 103.53. The 104.65 will be watched as resistance (see chart below). It is the 38.2% of the move down.

The CAD is the weakest. Oil is down 1.46% helping to weaken that currency against all the major pairs.  The AUD is also weak as the employment report saw revisions to the prior month which were less favorable. 

The ranges and changes are all up there.  The Fed and anxiety of Brexit, stocks, economies, etc have increased the activity in markets that might be low on liquidity.

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