Friday 17 May.

FED officials trying to remain as hawkish as possible has stabilised the USD. but all in all, nothing has altered my view that 'risk on' short JPY or CHF trades are on the table.

A look at the 4hr JPY charts does make me think yen weakness is perhaps a little stretched. And it may well be prudent to wait for '4hr up swings' to develop on the JPY charts before going again with JPY shorts.

Which only leaves the CHF as a possible trade. And although I think a short CHF is very viable right now. Due the fact we've been 'risk on' all week and because it's Friday. My current inclination is that pre weekend profit taking could occur. So rightly or wrongly, my decision at the moment is to sit this one out and start again next week.

Weekly review to follow, wishing you a nice weekend.

Feel free to email any questions: johnelfedforexblog@gmail.com