I guess we all can be wise after the event but I’m sure no-one expected the violent moves from overnight. 10 big figures in EUR/JPY!

Enough of the past, now we have to deal with the present; difficult fast and illiquid markets. Keep positions small and if you are inexperienced in such markets, take a holiday.

It’s unlikely that the events of last night will be a one-off so while we will certainly see pullbacks I’d suggest that rallies are for selling.

Good luck today and TGIF.