We’ve a let up of sorts in the yen buying seen this morning and that’s allowed the quid to recover
1.3997 has been touched after the drop to 1.3916 as yen crosses finally find a bottom. With some additional USD weakness still prevalent, it’s starting to help lead the way now too.
With the 1.40 barrier now gone, it’s now just up to the large offers sitting around there. There’s still some sizeable stops sitting above but where they are exactly is unknown. As the 1.4003 high didn’t trigger any, we can at least assume they’re above there. Let’s see if we get a break or not.
In case you didn’t see my tweets, I tp’s some of my 1.3995 shorts at 1.3975, 1.3920 andwas then stopped out on the bounce through 1.3965.
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