Today was a bit exciting if you traded Euro session and the Asian session. Some very nice moves in the YEN, has allowed some of our traders to do very well overnight. With the GBP/JPY taking the prize as the most active mover to the downside, there were plenty of 'risk off opportunities. This week will be the test to see if the fundamental aspects of the Fed move will play out in the markets. I have been saying to members since last week, that I did not think we would get that big move to the upside on the EUR/USD until some of these longs were hammered out of the trade. We have now come down into the low 1.1100's as I write this article. We will see if this is enough for the bears and if we see a retracement back up based on fundamentals. Many traders will always want to discuss fundamentals, as I do sometimes, however, these markets are different type of markets than we saw in the past. These markets are making much larger moves than we have seen in the last few years.

Here is the GBP/JPY. You will see the aggressive move down has come to a mild pause here as traders count there profits and decide if they want to continue the bloody move.

USD/CHF

Here is another example of a 'Risk Off Pair' we are staying under that very important 9765 level as we continue to make little moves during the U.S. session to the upside. I do not see this latest up move holding any momentum and I am looking for a move back lower this week, we will see.

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