Greek deadlock is starting to see risk trades reduced into the weekend
Traders in Asia have put a lot of the fall in USDJPY down to Asia traders reducing their exposure into the weekend and yet another one that will be dominated by Greece
There's some stop losses lurking under 123.00 but over $1bn in bids between 122.70 down to 122.50 from custodial and real money players. You can see the full list of forex orders here or by clicking the link at the top of the page.
EURAUD has been in demand from bank buying early in the European session which has helped AUDUSD maintain its downward trajectory. On the tech front the rise has brought EURAUD up to the 55 & 100 H4 ma's at 1.4560 & 1.4575
EURAUD H4 chart
The weekly Greek can has been kicked into the weekend and that's going to have traders reducing positions as the day goes on. We're already quite light on liquidity anyway so we may get some short sharp headline moves through the day. The calendar is void of any US data, bar the final Michigan survey numbers, which aren't usually a big mover anyway
Those big bids in USD JPY are worth keeping an eye on if we have a move down there but as always, judge any move in context at the time
