EUR/JPY is on the rebound along with US equities as stocks pick themselves off the mat. Things seem to be totally index driven today as the moves are so swift that they could only be the result of baskets of stocks going through rather than individual buy and sell orders. Firmer stocks, weaker Treasuries and easier credit markets are what we’re after. EUR/JPY would benefit from that sort of environment. Sellers remain in the 1.3740/50 region and again at 1.3775. Look for stops to be mixed with sell orders in the 1.3785 region.