USD/JPY continues to grind away in the 78 vicinity. After forming a shooting star on Wednesday, the Thursday session saw a hammer formed that suggests we are going nowhere fast. Because of this, only selling straddles in the options market seems like a viable option.
The EUR/USD pair saw real strength as we bounced off of a trend line on Thursday. There is a lot of noise above, so we are cautious, but it certainly looks like the buyers are in control at the moment. As long as this trend line holds - you can only go long....