AUTOREFRESH 
GBP/JPY: talk of stops below 137.25
By Sean Lee || February 25, 2010 at 04:02 GMT
|| 5 comments || Add comment
That would equate with the cable being below 1.5340 and USD/JPY below 89.50, which would mean that both ‘legs’ of the cross would have broken their support levels. If Europe carry on with this ‘risk aversion’ then these stops in GBP/JPY will certainly be in view as of course will be the 120.00 level in EUR/JPY.
Ughghghghgh. .89 doesn’t look so safe anymore.
Gold slips as dollar rebounds, investors jittery … http://www.reuters.com/article/idUSSGE61O02820100225?type=goldMktRpt
Even Aussie is getting hammered. I’m with McCrann in thinking the RBA is going to hike the rates. This time Tuesday I hope I’m patting myself on the back
Tuesday is a long way away if the RA keeps up, David.
Social mood is crystallizing in many countries, in many ways, atm. The manifestation of pissed off social mood could explode overnight.
Remember, markets are shaped by social mood and risk aversion.
The rate rise of the RBA is probably already be priced in, and it would need to be a .5% increase, or none at all, that would swing the AUD. Better to position oneself (for an objective reason that could blindside consensus judgement) on the least expected outcome, if I want to game the result and profit from it.
This is true, and accordingly my AUD long is just a piddler in size.. for now.
My outlook is more medium term in nature, but despite today’s bout of risk aversion I feel that at least as far as AUD goes it’s going to be somewhat range bound markets for a while.