FOMC

I have to write fast because the announcement is out in 10 minutes... :)

I yesterday had a short signal in GBPJPY at 128.691, which has cost money today and it looks like I will have a long signal again later today... This is a classical example of the whip-saw you need to live with when following a systematic model. On the bright side, I placed a buy-order in USDJPY overnight at 82.02 (stop 81.50 and target 82.95) which was hit. I decided to close that one hour ago at 82.68... I feel that markets has traded on stronger dollar into the FOMC-meeting this evening, and eventhough I am in that camp, I could easily see the market be a bit dissapointed and remove their longs. It is a  relative war in the currency-markets, and all sovereigns want to have the weakest currency... So I believe Bernanke will acknowledge the strong marcro-development in US, but also try to play down the expectations.

We shall see in 3 minutes...

Discr.

Long USDJPY

Algo.

Short EURUSD
Short AUDCAD
Long USDSEK
Long USDJPY
Short GBPJPY

P/L down 100 dollar to 3950...