AUTOREFRESH 
Asian FX market open: Price action suggests that there’s more to come
By Sean Lee || November 26, 2009 at 20:13 GMT
|| 6 comments || Add comment
As I wrote yesterday, the market moves reminded me of 12 months ago when risk aversion was in full flow and this has continued throughout the European session. As Lilac mentioned after the FTSE fell by over 3%, we could be in for another Black Friday.
JPY crosses like the beloved AUD/JPY carry trade were smashed and I think that this is the beginning of a nasty move lower. The CHF crosses also fell and Gold maintained its gains. With liquidity now drying up, more big moves are very likely.
TGIF and be careful out there!
Blimey earlybird
Hey – been shorting AUD just a bit.
Yeah short AUD/JPY and USD/JPY from really good levels but as always, possy is too small. Have been hoping for USD/JPY rally to sell more but it aint coming. I think we go straight down to 82ish and AUD to 88ish
Well I didn’t start until last night with ozzie USD and JPY – was a tidge nervous, seeing as they were maiden trades
Good luck to us eh – hope I don’t jinx you.
The AUD/USD tends to trade fairly logically and does follow technical rules with the 20-day MA usually acting as a pivot. AUD/JPY can be very whippy so I respectfully suggest keeping positions small and stops wide!! Who need’s luck Lilac, this one’s a big winner!!
You’re on
PS – I should’ve said, just a biiit