Yen, Aussie and their respective crosses have been in correction mode since Monday.

We knew we couldn’t expect any downside in the Bond Futures until after ECB today.

All those crowing about the COT report in Aussie ( Aussie record shorts) was a recipe to screw everyone.

U.S. / Japan 10 yr. spread has run its initial course.

Indices have timing over the next couple of days for a very large move.

Both the Spoo & Nasd are winding up, probing both higher and lower in a sizable range, for another move.

This A.M. the key is to follow the Bonds after ECB. Look for a spike rally and failure.

This will put an initial floor to the correction in FX.