Friday 19 December: Missed opportunities

Unfortunately today I've had two very poorly timed appointments, 8am boiler service and 2pm eye test (UK time). Meaning I feel like I've missed the boat on a potential JPY short trade.

In particular I would suggest an early European session JPY short 'post BOJ trade' would have been Ideal, given that UEAD wasn't particularly forthcoming regarding future rate hikes, disappointing JPY bulls.

Unfortunately, I doubt there is enough momentum left in the week to place a trade this late in the day, especially considering I've read that large options expiries could play a part this afternoon. Plus the JPY is looking a little stretched.

If (for example) AUD JPY continues to push new highs by the end of the day, I'll still look back and think in this moment it was correct to wait.

'Hopefully' sentiment for the JPY will remain soft and any pullbacks creating support will provide JPY short opportunities next week.

But for now, I'll go and try to wrap Michelle's Christmas present without her seeing.

Wishing you a lovely weekend.

Please feel free to get in touch with any thoughts or questions: johnelfedforexblog@gmail.com