Friday 22 September 09:15 UK time

Yesterdays USD GBP trade is still in play so my hands are currently tied in terms of placing a trade. But my short GBP bias remains following the BOE surprise hold. During the Asian session, Japan held its interest rate and essentially kicked the can down the road regarding a change in policy, which has weakened the yen and also keeps my short JPY bias, especially on pullbacks to support.

With the VIX up to 17 and the US 10year pushing 4.5, the USD is still an attractive long, and may remain so for the foreseeable future. In today's European session, PMI data from Europe still shows a high service sector reading but soft manufacturing which has been a trend across all countries. With GBP and US PMI data released today, it will be interesting to see if it affects the market. But for now I'll be keeping an eye out for any JPY or GBP short opportunities, especially Vs the USD or the CAD.

If you have any questions, feel free to email: johnelfedforexblog@gmail.com