May 16th 2016: Optimistic Start to Week

• This morning, markets have started the week with an optimistic, if cautious bias. Economic Bellwether the Australian dollar is on the rise, along with its close cousin the New Zealand dollar.

• The US dollar itself is falling back while the USD/ JPY rallies slightly.

• Coming up today we have US Empire State Manufacturing Index at 13.30.
• It is also a bank holiday in France and Germany.

Trade Idea: 

• The EUR/ JPY is on the rise this morning, but the general trend for the EUR/ JPY is mixed at best. Eurozone growth rates are hardly pulling up trees and the spectre of Greek troubles still haunts the euro.

• A good way to play this is a LOWER trade predicting that the EUR/ JPY will close below 122.50 in 10 days for a potential return of 158%.

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