I see Yen futures moving higher overall and we will see these levels again almost certainly, but this is a significant price area where an intermediate buy cycle for spot pairs should be expected and so the buy side of Yen pairs should look good for a period of days with just above 149 UsdJpy as a barometer.
AudCad is tryingfor 9150 again, which is a long standing price magnet, but I don’t believe it gets there on the first pass and so I still prefer the sell side unless something develops for now from the 9130/40 area.
The caveat with Euro is the meltdown of France’s political system this week and the Geo conditions. My preference in that one remains short until we see Dow 4400 or lower, which I believe is pending. Unless we get something very positive fundamentally, because for now stocks have shifted to a stock picking environment.
Larger picture I would be on the buy size of AudNzd from nearby levels for 1.1150 or better. These sells are the conclusion of an intermediate sell cycle in that pair and others, including Michael’s Euro view.
Due to the increasingly hair trigger Geo conditions I would not bet against Swiss Franc and am in the process of scaling positions in it.
Michael – regarding your post on bias shift in Euro, not today in my view but I see growing conditions for that to filter in as soon as tomorrow, I posted this yesterday …. “I see some conditions that point toward EurGbp pulling up toward 8400 in coming days”.