There isn’t much on the economic calendar to excite the market today in Asia. We will probably have to wait until early European trade and more Greek headlines before volatility picks up again.
Dealers tell me that there are a number of very tight trailing stop-loss buy orders in USD/JPY above 80.10 but even though we are very close, reasonably heavy offers just ahead of there are keeping the stops safe.
Elsewhere, the NZD/USD has reclaimed the .7805 level, which was the previous low, and if I were a Kiwi trader I might be tempted to buy with a tight-ish stop below the Fibo I mentioned earlier at .7790? AUD/USD is holding above 1.0000, which heightens the chances of a relief rally imho, and the EUR and GBP look very dull.
