Category in FXWW News

Longer term JPY positions likely to be tested today

Forget about fundamentals, once the market gets a nasty shock the obvious reaction is to scale back on all open positions and exposure. One of the biggest positions in the market is short JPY and these positions could be tested in today’s conditions. I’m not taking any positions but I’m definitely looking at trading the

Brokers will revisit CHF trades, clients may suffer

Reuters are reporting that big retail FX brokers like Saxo Bank will “potentially set different rates for transactions conducted after the SNB move yesterday”. “Once we are better able to establish the market liquidity, all executed fills will be revisited and amended to more accurate levels,” Saxo Bank said in a statement. “This may result

System problems post-SNB adding to confusion

“After the SNB announcement with regards to their floor in EURCHF there have been significant issues with regards to the level at which orders have been actually transacted as opposed to the communication by system-generated confirmations. This also applies to all USDCHF and all other CHF crosses.” -Bank communication via the FXWW Chatroom Looks like

USD/JPY: Playing from short side again today

The market stalled in NY trade at a technical support level near 117.55 and with fundamentals still bullish alongside the trend, any stalling will have the market immediately thinking re-bound. But these rebounds will be shallow in my opinion and further heavy option-related stops down through 117.50 and 117.00 will surely be targeted, just like