Hope you’re making sense of all this whip-saw trading
We have seen some quite wild moves in all pairs over the last few hours, quick swing traders will undoubtedly find interesting 50/70 pip trade opportunities, but the rest of us must sit back and decide what to do. Usually an indication that the Fed will keep stimulus going should be bearish for the USD and bullish for risk trades; therefore AUD/USD would seem like the obvious trade. But with EUR/AUD up sharply from yesterday and AUD/JPY down sharply, the market doesn’t yet seemed to have completely shaken its bearish-AUD stance.
I have a feeling that USD/JPY might get very interesting in coming sessions and I don’t think the danger is to the topside!
Have a good day.