Archived IMT (2008.10.14)
I mentioned the falling yen crosses in the latest headline (3pm EST). you can consider hedging against these longs by being short NZDJPY and USDJPY. Looks like GBPJPY will test 176 yen and cable targets $1.73. This is a very volatile market. Better to have money on both sides of the carry trades. Either what I mentioned above, or go long AUDJPY, GBPJPY, NZDUSD and short GBPUSD and USDJPY. The latter pair is best to short as the 103 resistance still holds.
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