Monday 2 September.

Due to labour day it's been relatively quiet day in the market. With the exception of JPY weakness. It's a welcome site to see the yen breaking above 4hr resistance (in particular AUD JPY).

Having just looked at the charts, I'm in the age old predicament of feeling like, although JPY weakness appears relentless, on the 1hr charts I feel like it's due a pull back.

Therefore my current decision is to wait for 1hr support to form (perhaps if somewhere around the price 99.60 AUD JPY is re-tested and starts to push up again).

During Tuesday's European session, CHF inflation is due to be reported. And potentially it's a pre event anticipation trade opportunity... Whereby, on this occasion, due to the prevailing 'risk on' sentiment, I would only set a stop order for a negative CHF release (lower inflation). Ordinarily for an anticipation trade, I prefer to use the USD or JPY due to the high liquidity of the currencies. But on this occasion, I think there should be enough liquidity in GBP CHF for the order to trigger without slippage.

Although I have my eye on a couple of potential trades, 12 hours can be a long time in the Forex market. And I will asses the state of play during the early hours of the European session.

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