Good Morning,

We are at some very interesting positions globally. The NIKKEI 225 is about 225 points from critical support. A 1% move is required and we are there. A break through support and a major JPY breakdown could be on the cards. I am looking to short properly the USD/JPY.

I am presently short SEK/JPY on the back of poor Swedish Inflation data overnight, if the JPY breaks down this should be a brilliant trade, but I am ahead of the game slightly.

I have a limit order with my brokers on the CAD/JPY short (not yet triggered). Watch this space NIKKEI moves and JPY effects could be market moving in monumental style.

Chinese data last night was really poor and i would not rule out this having an effect today. The AUD employment data last night was once again great data.

Currently I am live in 8 trades with a pending limit order. This is normally my limit but most of them are very small positions and my RISK MANAGEMENT limits are not yet complete, so if I wish I can take on more risk. No sure I want to apart from the USD/JPY short.

Just to let you know I have increased my position sizes on the USD/CAD and USD/CHF....happy with CAD not as happy with CHF.

Lets see what today brings, it could be an interesting day. At the time of writing this the NZD/USD is at lows of the day and the USD/CAD is back above 1.0900....just saying but not counting my chickens.

Scott