With Thanksgiving this week, we should expect a little different dynamics in market behaviour. Historically, it is a relatively slow week, comparing to days preceding it. I still expect Monday and Tuesday to be rather active, but later on most financial markets should quiet down. This includes Forex. Now, that would be “typical” Thanksgiving week. As we know, last few months have been anything but typical and this could include next few days. Personally I think that most traders and decision makers are really tired of this constant uncertainty and will use Thanksgiving as an excuse to cut the week short and just get away from it all.
There still could be couple of trading days with good opportunities. Just like I did last few weeks, I’ll look for opening gaps. If I find any promising ones, I’ll try to document any trades resulting from them, for a discussion on these pages later.
Japanese Yen close sharply lower on Friday. By that I mean JPY got weaker and the crosses moved higher. Most of the time when this happens(not always) this tends to continue for a few hours after the Sunday open. I’m going to see if this tendency is manifested today. For that I’ll use CAD-JPY.

Two prong scenario here. Breakout above 76.50 makes it a buy with an objective of 78.20-30, or 170-180 pips. There is a confluence of resistance factors just under 76.50. If it holds, my plan is to buy CAD-JPY if the price falls to just above most recent low of about 73.25. This translates to entry in the 73.50-70 area.
GBP-JPY also looks good as a buy, but I will take only short term buy trades there, as I normally do. So, trading plan is laid out, now the market has to open.

Mike K.