I setup five conditional orders early in the morning yesterday all of them to dollar long. But none of them was filled. Later in the day when other currencies dropped even more to dollar, I made revisions to my entries so they would not be so far from the spot price. This morning still noting and my dilemma is whether I should wait for a retrace or just cancel them all. While I do believe that FOMC Minutes should be dollar supportive, in this market anything can happen, so I’m debating it, and maybe I should just stay away from trading until it’s clear if dollar buying will have more legs. But there is just about one week left in this contest and I’ve done well, quite well actually, and I still have a chance of winning the contest but it won’t happen if I’m not trading, so what to do?

On the other note, I’m very surprised how far USD\JPY climbed since last Friday (when it clocked the low of 105.50). Is this going to be a sustainable recovery? I’m tempted to buy yen here as any more trouble in the equity markets will send it back where it was last week.