The major action-driver earlier this week - gold - has stabilised over the last few trading sessions leaving the market concentrating mostly on earnings season in the US with a relative paucity of data out this week.
I continue to hold longs in USDJPY and the Nikkei Index, the former entered at 9675 and latter at 13250. I expect to take off USDJPY above 100 or prior to Golden Week, whichever comes sooner. My position in Nikkei is a longer term trade and I am ultimately targeting a move to 15000, though I will be watching closely for signs of overextension given the rally since November.
I am also closely watching GBP with intention to short, likely vs the USD or AUD. British economic data released this week continued to paint a depressing picture of the economy, and the MPC/government seem out of ideas to halt the decline.
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