AUD,NZD/Flows and Orders/FXWW News/USD/JPY

AUD/USD: Traded to .9390 in illiquid stop-driven markets

This morning’s price action is all about stop-loss orders. USD/JPY took out stops below 98.80 and again below 98.60 before immediately bouncing. Then it was the turn of AUD/USD with stops triggered above .9350 and .9370 with highs near .9390 being reported and some ‘out trades’ reported above .9400.

  1. Hey Sean, reckon we can fade these moves? AudYen stop short of hitting my sell order at 92.88! 😐 Aud still a sell rally play in short/mid term IMO but the spikes are scaring it out..

  2. Hi Ray, clever move to play the crosses in these ‘silly’ mkts which get thrown out of kilter by large stops. Obviously tricky to pick levels and I don’t like leaving fixed orders, best just wait n watch and then jump in when it gets too silly. Think USD look v v vulnerable

  3. Agree Sean, definitely big silly moves. It’s just withdrawal of Summers for the post and we get such big moves. Can imagine the frenziness come Thurs post-FOMC!

  4. I had that b out trade a few weeks back remember Sean. Fxcm resolved the issue by giving me my money back. This out tears sick. I think aidjoy is a play from 91.70 long targeting 93.50 seems like a play to take on the small side.

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