If you are just tuning in, the yen is on the move already
- USD/JPY has popped back above 107 to highs circa 107.25
- EUR/JPY to around 131.90
No news nor data etc. apart from what's been posted already
And, now for the quiz, choose one answer (or two if you are a bit peculiar I guess ;-) ):
This is the .......... time of the FX week
- Thinnest liquidity
- Best liquidity
Entries close midnight next Saturday. I (deliberately chose that time because) I won't be around.
Good luck!
Prize:
You get Sunday off (unless trading crypto)
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ps. Hint here (and every Monday morning): Monday morning FX - 26 February 2018 - foreign exchange prices, early indications
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And, the point .... this is an early Monday move in a time of thin trading. Its just gone 7am in Tokyo and we will start to see some liquidity return to the market soon. Until then, this is a treacherous time (or can be). FX rates can move (or be moved) sharply on not much at all, of anything.
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Update:
- Interbank buying
- Stops taken out above 107.10/15
- Option expiries Monday around 107.00/05 total just under 2.5bn USD, expect the level to display some stickiness
