NOK/JPY (-2240 pip value 0.01, actual -22)

with risk aversion taking place on the market and oil heading lower, one of the ways to short commodities currencies that is connected with oil is NOK with JPY that traditionally takes role of the safe haven currency. Market are heading lower since Asia, Europe, and US market just opened 0.5% lower. Slow Stochastic are pointing for a move down. Stops should be placed above the recent day highs, and profit targets should start at about 15.300 and lower. Focus should be on movement of the indicies (S&P, DJ, Nikkei 225, FTSE, DAX...) and movement of the oil. Falling equities and lower oil are going in favor of the trade.
Since there is plenty of good news out of Canada, it looks like a safer bet to short NOK/JPY than CAD/JPY