It is 09:18am GMT Monday, and I still haven’t taken any trade. Why should I? I’m not a trigger-happy loser, right? I’m not trigger-happy, yeah, but I am a loser 
so far, that is.
After Friday’s egregious move in NZD/JPY (and the other Yen crosses), the market is wondering what’s next? Will the yen keep weakening, or was it just a one off – a freakish Friday NFP kind of trading day? I’ve read somewhere that Japanese corporations are required by law to convert all their assets into yen by the end of March for taxation purposes. Logically, that would mean there’s still quite some time for the yen to maneuver back into positions of strength, as all those companies would be buying yen. But for now, it looks like JPY will be weak for at least a couple of days. I’ll be on the sidelines at least for a few more hours.
