The bounce off the lows in EUR/USD, GBP/USD, USD/JPY and AUD/USD look a little bit like the dead cat variety. It seems”stop” drive-by in EUR/JPY down to 123.15 was the cause of most of the earlier angst with markets settling down down once the stops were out of the way. That said of what we have seen so far, bounce is probably not the correct word!.