As mentioned in numerous posts this morning, traders continue to trade off the headlines and the moves in the Nikkei futures (official market currently closed for lunch). The headline workers evacuated from damaged nuclear plant sent the futures south once more whilst AUD/USD traded back down to the figure. The last headline pumping of sea water to reactors proceeding smoothly saw a rebound in prices.
All up very hard to trade this market with many players still keen to get out whilst others view the Nikkei as a screaming buy so long as the nuclear situation settles.
Talk of stops below 80.60 in USD/JPY (low both Monday and Tuesday) may be overblown. I am hearing big buy orders below.
