UPDATE: Macro Monday Tactical Book: Short Nikkei — #SaxoStrats
Please see Macro Monday Tactical Book: Short Nikkei — #SaxoStrats.
On the Nikkei short, we still think it's elevated. But looking at DXY, the euro and Australian dollar charts, it looks like we could get a US dollar bounce sooner than expected, given the moves last Friday.
It will be hard for the Nikkei to continue to come off if we have a USDJPY rally (this is on the back burner for now; this is more trade management than anything else).
— Edited by Robert Ryan
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