Big moves like the overnight drop in USD/JPY tend to wipe much of the orbderbook clean.
D’uh …
So, desks are left with thinned out orderboards, which can make for thinner liquidity and larger moves. Not that we’ve seen anything like that so far (except for the monster Kiwi, which is loving that GDP result!)
- Sellers 98.70/80
- Sellers 98.50, with stop loss buying above
- Stop loss sellers below US lows 97.70
- Buyers 97.50
