i actually shorted eur/usd eur/jpy gbp/usd gbp/jpy last night and held overnight... but results were lackluster, i went light on the yen positions and heavier with the usd. came out down a little, almost break even. gbp still looks interesting. i'm thinking of covering eur/usd gbp/usd and shorting the usd/jpy again @ 118.40
don't trust the yen, there is no real strength there, only hope... gbp is ripe, now that the housing figures have come out... if trade balance is as ghastly as last month's we're going below 1.74 in a blink (now 1.7420)
i just saw it drop 25 quick pips... gbp/usd. i'm short eur/usd at 1.1977 i was going to short gbp/usd but the spread jumped to 10! during the volatility... on oanda. just wanted a quick momentum trade. i'm out of all yen plays at the moment.
gbp v.weak, wait until after BoE rates altho risks of a surprise cut are v.v.low of course, but with eur lacking any strength, particularly after c.noyer's unconvincing comments today and the string of bad figures from GE, gbp cld v.well plunge further... as for the yen, wait for after tom's cgpi figures of course am off for drinks... cheers!
me waiting for US IJC now... if the figures are just as good as expected, gbp will break the 1.74 line again, may even do so before that since gbp has no leg to stand on right now jpy being way more sticky than eur, no real support for eur at the mo', and with the hope of strong jp cgpi figures tomorrow, the odds are with you on yr eurjpy short methinks... good luck ;-)
still short eur/jpy down around 20 pips though! i'm holding... eur/jpy at 142.20 now haven't read up on news yet today.