Staying quiet in early Asian FX market
Nothing much to report so far this morning with most of the market’s focus on USD/JPY, and whether the bulls can muster sufficient momentum to challenge the physical and psychological barrier at 100.00. I have no strong views either way on USD/JPY; I think its best to wait and see how the market reacts if/when we get a bullish break.
I’m still running my longer-term long USD/CHF and long EUR/AUD positions but I’ve booked most of the profit already from my Friday evening trades in AUD/JPY and EUR/GBP, which were both meant as short-term trades anyway.
I’m out for a few hours and will be back after lunch.