JPY, EUR, GBP & USD - Market Barometer Update

Hi guys, after last night's massive EUR and GBP sell off, both currencies are consolidated and ready for another push down. We should see more EUR and GBP weakness during the Euro and US sessions.

The USD is also losing ground. This should send the EURUSD and GBPUSD sideways/choppy. Stay away from those pairs until the USD moves away from the EUR and GBP in trend bias.

The JPY is headed for another push towards strength. If you are short any of the JPY pairs, hold for the next push then consider taking profits. The JPY pairs will bounce after the next push (remember what happened with the EUR last night).

The AUD, NZD, CHF and CAD are all in the 40-60 range. Any of these currencies could have a big move, but we do not have a clear direction yet.