Pair / Yesterday Low/ Today High /Current Price
USD/JPY 121.78 122.45 121.25
EUR/JPY 168.10 168.70 167.72
GBP/JPY 249.70 251.09 249.28
AUS/JPY 106.82 107.72 106.77
Initially, I was very keen to buy at this dip if prices could hold their yesterday's lows. The reason was simply to hold some long positions over the weekend to earn me some interests. However, this was not the case, we had some significant break down in the JPY crosses. In my humble opinion, the carry-trade party was temporarily over at least for the next couple of days. At present, I will stick to my negative bias and will not fight this sign. I fear the worst is yet to come.
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