Markets staying choppy but USD strength still main trend
USD/JPY made a strong break higher yesterday, taking out heavy sell orders near 107.50 and proving that the market still has plenty of appetite to buy this pair. The USD also made strong gains against the NZD and whilst the other majors were choppy, the bullish USD trend remains the strongest lead in the market. Personally I don’t get it, but at times like this it’s best for me to step aside and save myself a lot of aggravation and money.
There is not much in terms of data today and although Friday is often risk-off in Asia, I’m not sure that the market has built enough big positions to warrant such a move.
Good luck and TGIF.