As the readership and Adam pointed out it’s yen day today with selling supporting most of the majors rather than the other way round.
GBP/JPY is looking to challenge the September highs just shy of 160
GBP/JPY daily chart 22 10 2013
The next big target should we pop is the Jul/Aug 2009 highs at 163.
GBP/JPY monthly chart 22 10 2013
AUD/JPY is also approaching a milestone in the 50.0 fib from the Apr swing down at 98.89.
AUD/JPY daily chart 22 10 2013
There’s some big targets to overcome in the yen pairs and if we overcome them and hold then we could see them enter new ranges and start to forge much higher. The levels are there to be broken if the market wants a crack at them.
