Relentless US service PMI.

US service PMI is reported at over a two year high. US yields are up, the VIX is up and stocks are down as a September rate cut is put in jeopardy.

I currently maintain my preference of trading 'hawkish' central banks Vs 'dovish' central banks. And on the face of it USD JPY long is a very viable trade right now.

But but due to my current scepticism of 'momentum follow through' on Fridays, plus the 3rd Friday in June has cross market option expires (witching day). Which has been known to cause strange market moves. I'm content to sit on the sidelines today and start again next week.

Weekly review and psychology lesson regarding yesterday's trade to follow: wish you a lovely weekend. Personally, I'll be trying to convince Michelle that it's a good idea to watch every game of the euros.

Please feel free to email any questions: johnelfedforexblog@gmail.com