Morning market update 22 07 2021:
USDJPY buy trade remains open with the equity markets moving higher over night in the US session, the US dollar broke through 93.00 and with the JPY on holidays today I'm ok to hold this position with risk sentiment positive as the AUDUSD rallies. Initial jobless claims is out for the US at 20:30 GMT+8 with 350k expected, existing home sales (June) and existing home sales (MoM)(June) is both out at 22:00 with May being -0.9%. A beat on expectations for existing home sales could see a lift for the DXY and I will also be monitoring this trade to close out equity markets start showing signs of cooling off which will help strengthen the JPY.
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