Anyone trying to jump onto a possible trend in EUR, GBP, or AUD is getting chopped to pieces. The Greek situation and the EUR are the main factors in play, with sentiment very bearish but the market also very short; hence the choppy trading conditions. The Yen is the one exception and the announcement of the change in intervention tactics allied with additional easing seem to have done the trick for the Japanese authorities, in the short term at least.
Risk-off Friday in Asia usually means that the Yen crosses come under pressure but what we are more likely to see is more positional adjustment before the weekend.
Good luck today and TGIF.
