The first wave of yen sales has capped for the moment with good USDJPY selling interest at 99.00 providing enough reason for caution across the board
Cable posted highs of 1.5331 but sell orders have capped the move, as well as good demand on EURGBP at 0.8530. Buyers now lining up at 1.5300.
EURUSD never looked overkeen to go up and although we’ve seen highs of 1.3084 we’re now back at 1.3065.
AUDUSD posted highs of 1.0357 but with USDJPY stalling as well as gold falling back to USD1415 from highs of USD1425 we’re now back at 1.0339.
Price action will hang on JPY pairs again and traders still look keen to buy on the dips hoping for greater momentum higher once the G20 statement is out the way and confirms that Japan will not be brought to task.
