• I still feel that last Friday’s gap in late NY trade from 1.5250 is likely to be closed. I prefer the buy-intraday-dip strategy but patience needed as it will be slow in Asia.
  • EUR/USD will struggle to break below 1.3000/20 unless EUR/JPY suddenly goes ballistic again.
  • AUD/USD will probably be attracted towards big optionality at 1.0150 but risk-reward favours buying that dip.
  • I remain short-term bullish on the Yen and perhaps selling straight USD/JPY is the best way to show this? Best wait and see how the market develops.