The general market mood remains positive, and particularly sentiment for the USD remains in the douldrums. All of a sudden, there is talk of three FED cuts by the end of the year (although I think that's a bit ambitious). A soft NFP report could cement multi year USD weakness.
But pre (Thursday's) NFP I suspect we could see some dollar profit taking.
Currently, I see 'risk on' short JPY (or CHF) as very viable, the risk to a trade would be USD liquidity if the dollar continues to weaken.
Recommended trade: AUD JPY long
But pre (Thursday's) NFP I suspect we could see some dollar profit taking.
Currently, I see 'risk on' short JPY (or CHF) as very viable, the risk to a trade would be USD liquidity if the dollar continues to weaken.
Recommended trade: AUD JPY long
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.