Tuesday 16 April.

The risk to yesterday's trade was concerns over the middle east. And a comment from Israel caused a brief spike of JPY strength. That strength subsequently reversed, which leaves me back square one, with a long USD Bias V's JPY or CHF. And the risk to the trade is middle east fears or JPY 'intervention'.

I'm currently not of a mind to play a 'risk off' commodity currency short. In fact, my preference is still to long the AUD or NZD in particular due to perceived future interest rate differential.

In other news, slightly higher unemployment from the UK makes tomorrow's CPI data very interesting.

Comments from China regarding future relations with Europe seems to be propping up the EUR. And makes a EUR CHF 4hr 'support and resistance trade' look tempting.

upcoming CPI data from Canada could create CAD volitility. But currently, my decision is to wait for the US open before forming a conviction.

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