Next Monday morning, new increased margin requirements will be introduced for Japanese retail accounts. The Japanese retail community is generally long AUD/JPY or USD/JPY and many accounts will utilise the whole of their 100:1 leverage. If they cannot meet the new requirements then they either have to put in more cash or else their positions will be closed. The positions that don’t meet the new margin requirements will be closed en-masse at 00:00 GMT next Monday morning. We have absolutely no idea what effect this will have but if unsure, then stay out until its settled.