Brief review done between 7-7.30am.
- BOJ Gov Kuroda spoke at 3.30am. This didn’t trigger any volatility in the Yen pairs.
- No corn-trade setup on GBPUSD, AUDJPY, AUDUSD thus far – price has not shifted a lot.
- There has been no bullish price action on EURJPY and CHFJPY.
- Basically there has been a tight Asian session across all pairs (even GBPNZD for example).
- The point I am worried about is that now that price has jumped on practically every single pair – what if price now continues strongly without ever retracing – thus not allowing me to enter – I guess the only way I can avoid that is to look for a retracement on the 1H chart. It will be interesting to see whether this morning, price will continue in the same direction, whether it will consolidate or whether it will retrace. There is also the issue of whether prices will gap again on Sunday, making it more dangerous for entering a trade during the day today.