Quick overview of Asian FX market

  • Apple stock was over 10% lower in after hours trade giving risk-sentiment in Asia a negative lead:
  • AUD/JPY was one of the more active pairs, falling from 93.55 to 93.05 in early Tokyo:
  • HSBC China PMI was better than expected and at a 22-month high of 51.9:
  • Yen crosses started to rally thereafter:
  • Chatter that CEFP would quickly promote aggressive easing gave the Yen crosses a bit more momentum:
  • BBC reports that North Korea was set to test more long-range missiles gave USD/JPY extra bullish impetus:
  • AUD/JPY topped out on the session near 94.00 and EUR/JPY near 119.10.
  1. I’m short Cable from 5880 yesterday, will leave it open targeting sell stops below 5800. What do you think about the pair short-term?

  2. I’m really unsure on cable Milan and prefer not to trade it at the moment. I’m definitely in the sell rally camp and there are sure to be stops below 15800 which are likely to be targeted but I still would not trade it at current levels. I must be getting scared in my old age 🙂

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