After some early stop-loss hunting in EUR/JPY below 125.70 and in EUR/USD below 1.2860, the Asian market has settled and consolidated. Most of the majors are not far away from their NY closing levels. It will be interesting to see what the bigger European players make of this weekends events.
I am looking for further gains in USD/CHF, a possible spike in USD/JPY above 100 and range trading in the EUR/USD with a slight bearish bias.
Monday is often the trickiest day of the week for picking moves so I tend to keep positions small until I get a feel for the market.
