You thought it was bad this morning when EUR/JPY collapsed? Any stop within a the same area code as 117 will be in severe jeopardy in early Asia with liquidity even thinner than normal. many banks lost tons on their stops earlier in the day and are in no mood to lose more on the topside stops tonight. It could get ugly if we get much above 117.15. We trade now at 116.50.
US equities are heading into the close with a head of steam, up 3.7% after yesterday’s slide of more than 5%. EUR/USD is clearing out stops above 1.3015 as I write.
