Good morning. So far since Tokyo opened the JPY has been weakening, especially against AUD but also against the USD and the risk currencies. The risk currencies in general are also up somewhat against the USD.
As this is Monday it is appropriate to be cautious as Mondays often show fake moves and chop. The swings in most currency pairs have been slowly leading towards consolidation which makes me cautious.
However if the risk currencies pull back from some of their gains there might be a good trade if they either make new highs or alternatively go on to drop strongly.
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