Disliked{quote} To sum up, I'll still be holding AUDJPY, USDJPY, and GBPCHF shorts + EURGBP longs. Targets are the same ones mentioned last week. Best, JayIgnored
It's hard for me to believe that the market was generous enough to allow entries at such low levels before it took off.
Probably the weekend gap (21st of Jan) had to be closed before continuing higher.
GBPCHF also covered its gap, and still seems as the healthy short for the time being. I won't be adding anymore shorts to the already existing ones on this one.
USDJPY is stuck in a range, but its just a matter of time before we break down below 111. I still believe any move to the upside is a selling opportunity even if the move up went as high as 116.
AUDJPY has been the most stubborn out of the 4. The recent AUD strength is interesting. As I've mentioned before, for me the main driver for the AUDJPY weakness will be JPY strength rather than AUD weakness. I've cautiously added to my shorts as we were going up. We may have seen the top today, but it's yet to be confirmed. I'm keeping a close eye on this pair.