AUD/JPY and GBP/JPY have borne the brunt of most of this morning’s selling. Next target might be EUR/JPY stops below 133.50. Remember that markets are very illiquid at this particular time and small flows can move prices quite a lot. Also, don’t forget my pet theory that the first move in Asia, particularly if it’s against the recent trend, is always 100% wrong. Let’s keep an eye on this one Blackday and we might pick up some cheap JPY crosses in early London!
I’ll hand over to Sam now for a few hours and see you later in the sssion.