AUD,NZD/EUR crosses/Open/Wrap/USD/JPY

AUD opens slightly higher in quiet interbank trade

Not a lot happening in early interbank trade although the AUD is slightly higher, most likely driven by minor Chinese economic data released over the weekend.

  • USD/JPY has drifted back below 103.00 and I’m still looking to sell any rallies towards 104.00 in anticipation of some heavy option protection. EconMin comments that the Yen correction is complete are weighing on this pair for now. 
  • EUR/AUD has failed to close the week significantly above 1.3200 resistance so I’m considering booking profits; will wait a few hours though.
  • USD/CHF still looks very bullish so no need to panic into profit there.
  • I’m still running a small cable long from Friday and am happy to sit and see how this develops.

There is nothing much of interest on the economic calendar and with holidays in some parts of Europe later today, I think we may have a very quiet start to the week.

  1. Hi Sean, good morning. hope it was great weekend. I came across a Zerohedge article on Amari commenting on usdjpy levels. what do you think on the support levels there? I think 103 should be the cap for atleast until BOJ meeting.

  2. Morning RR, yes thanks all good here. Any rallies above 103 are definitely selling opportunities but with the USD so strong across the boiard, we are likely to see dips well supported as well. Plenty of patience needed in 100/104 range imho

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