Risk trades hard to call at the moment
It’s no surprise to see the ‘euphoria’ regarding the Turkish rate rise quickly evaporate and now we are back in no-man’s land in many of the JPY and CHF crosses. These have all been very hard to call in recent weeks and I’m staying away from them until the picture gets clearer. The one bias I’m holding is to buy dips in GBP/CHF but I’m not entirely comfortable with entry levels so will wait a bit longer.
AUD/JPY will command most of the interest during Asian trade and although very wide, I’d look to trade as close as possible to the edges of an 88.50/90.50 range.