Currency wise….little can be said. The chart of USD/JPY says it all.
This is “not” a time to consider individual economies / monetary policy / economic data of any specific country as……it’s really not about that now.
With such an extended move in “risk” all the while rapidly eroding fundamentals “world wide”…..we are faced with a very simple trade / principal with far more “significant implications” than the simple economic “rattlings” of a given country on any given day of any week.
Short term traders ( looking for an easy buck ) will have been ( and will continue to be ) completely blown to bits here as……..there is no short term trade.
100 pips ( represently fluctuation of a single cent ) jump like popcorn here, as do extended periods of time where a given currency pair just “pulls you off side” then spends days hanging in no man’s land ( sound familiar? ).
Nothing is going anywhere until this “distribution and repositioning” has run it’s course.
The obvious question at hand………………when?
I continue to watch the “continued strength” in JPY ( regardless of the lack of movement across JPY pairs ) as well the “expected reversal in Nikkei” as leading indicators – market wide.
We can’t be far off now.
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