Yen Pressure Resumes

Morning Report: 09.00 London

• This morning, the Japanese yen has continued to exert its influence over current movements despite a public holiday in Japan today. The USD/JPY gapped higher in early trading, dragging most other yen pairs higher. The USD/JPY is up by 0.39%, with the GBP/JPY up by 0.30%.
                                                                 

                               

                               

• The euro is bucking this trend, with the EUR/JPY up by just 0.11%. The euro has come in for some heavy pressure so far this morning, challenging the September lows.
                                                                                                                                                                   
                               

                               
                                             
                               

• The dollar pairs are generally pressured as the dollar index gapped higher in early trading. The AUD/USD is soft after slow Chinese service sector data and low Australian building approvals.
                   
                               
                          
• Stock markets are mixed after the S&P made a new closing high on Friday.

                               
                           
Coming up today:

• Coming up today we have European final manufacturing at 09.00, followed by UK manufacturing PMI at 09.30.

• US ISM manufacturing data is released at 15.00.

• BOC Gov Poloz speaks at 17.50.

Trade Idea:

• The British pound is out performing this morning and it could pay to keep on the yen pair train as they push higher.

                               
                               
A good way to play this is a HIGHER trade predicting that the GBP/JPY will close above 181.00 in 15 days time could return 130%.

This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice. 

Summary: