Risk-off sentiment continues to play out as Brexit/global concerns prevail 14 June 2016
We're seeing one-way traffic this morning as safe-haven demand for JPY sends core pairs lower across the board and keeping a lid on a USDJPY rallies.
EURJPY has broken down through one barrier option interest at 119.00 and tested the next at 118.50,dragging EURUSD down to 1.1211. Demand into 1.1200 and more at 1.1170-75.
GBPJPY continues its significant slide to post 149.20 before running into a little demand helped by EURGBP retreating back through 0.7950. GBP pairs still under pressure but other pairs playing catch-up in rapid fashion.
AUDUSD and NZDUSD both lower at 0.7333 and 0.7004 on AUDJPY and NZDJPY selling as I pointed out in the order board post. Demand into 0.7300 and between 0.6980-0.7000
"The trend is your friend" is the oft-quoted mantra, and right now the trend is definitely risk-off.
CHF demand is notable too with EURCHF once again in retreat as 1.0900 proves a step too far after yesterday's rally. Expect the SNB to keep a close eye on it all amidst the Brexit risk as per my post yesterday.
