Unfortunately from about an hour or so after London open, the forex markets were actually fairly quiet. The dominance of the JPY in the market over recent months has put those of us who trade the London session at a bit of a disadvantage, as it is often around half way through the Tokyo session that the best JPY pair set-ups occur. By the time London opens at 8am London time it can be a bit late to get the best of any move. My EURJPY long this morning was an illustration of that as there was a better trade a little while before London opened.
Today for most of the London session there was a counter-trend drift, but there were no additional moves of any great significance.
I will wait for midnight GMT before making a final call, but we are currently positioned for a Demand Return trade tomorrow, short on AUDUSD between 0.9312 and 0.9260. Trades can be taken from midnight GMT tonight until close tomorrow. Of course, trading very close to Friday's close can be risky as brokers usually do not guarantee stops that are hit over the weekend.
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