Profit taking in USD/JPY; support at 96.50

Early Tokyo is doing its’ usual trick of booking profits after decent overnight moves. USD/JPY has fallen from 97.00 to 96.60, with next support being the NY low at 96.50.

EUR/USD is up to 1.3950, but sales of EUR/JPY and standing orders above the market, are weighing.

One Comment

  1. Did you happen to read the Journal (5/28) OPED section regarding executive compensation; “Crazy Compensation” by William Blinder. Long story short, he blames not only lucrative exec comp but ALSO trader’s compensation and the “all or nothing” mentality where if there are trading losses they would be absorbed by OPM (other peoples money)..I thought the piece was a little unfair to traders… Let me know your comments…if you have the time to read it..

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