Some more commentary....

Hi All,
So as predicted in this blog, the crosses have resumed their journey in favor of the longs...GJ alone seems to have been caught in a tight range which should hopefully break out in favor of the longs by tomorrow. All the crosses seem jolly well good enough for a ride in the longs.

The reason for this being that none of the statements out of Japan today spoke of any indication of any rate increase. Though they might have subtly hinted at a rate hike, overall, the tone was not as hawkish as people had expected it to be. So the buyers have come back and as can be seen GJ is back where it was and EJ has even overshot its previous highs..

All in all, a good interesting day. As for tomorrow, some news is due out of NZ and US and that should make things slightly interesting but it should not shake up the JPY crosses a great deal.

CADJPY had been threatening to break out for longs right from morning and finally after the CAD news was out, it too broke out in favor of longs..

Happy Trading!!!