FXWW News

Quick update on early morning flows/activity

  • USD/JPY stops were triggered below 107.35 and AUD/JPY stops were also targeted and tripped below 93.00;
  • AUD/NZD stops were triggered below 1.1100 and at various levels below but solid bids emerged 1.1070 to stem the bleeding;
  • EUR/JPY support levels held near 135.50/60 and this caused a modest jump in EUR crosses, EUR/AUD in particular;
  • Elsewhere, Gold rose by 0.7%, crude oil is -1.2% and S&P futures are -0.6%.

From the FXWW chatroom.

  1. No Yass, got stopped out. I will concentrate on my short USD/CAD trade which is more or less the same view/strategy. My timing on AUD in recent weeks has been catatrophic

  2. With all those long AUD stops being triggered, this market looks surprisingly short (intraday) – very reminiscent of last week. .8650 now taken on significantly more important value to the bulls. Are we seeing a SHS forming on charts – feel a short squeeze is in order and we see a rise to 0.8830 …. but down is the clear direction in my view

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