I’m quite comfortably short USD/JPY with a 100 pip stop above 106.00; if prices get there then I’m wrong.
I’ve cut all of my long AUD positions against the USD and the crosses; I remain bullish but I’m not sure on the timing. Gold still looks bullish and EUR/AUD is surely a sell-on-rallies proposition but I will keep my powder dry until bullish momentum starts returning to the AUD.
I’m clueless on the GBP and am trying to trade cable intraday in very small lots, hoping for the ‘feel’ to return.
Positioning is reportedly quite light across the board, apart from macro short GBP, and it’s hard to see the market getting overly aggressive ahead of next week’s US election.
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