Whilst we have been loud in advocating the current rally in the JPY crosses, we have been taken somewhat by surprise by the ferocity of the overnight move with EUR/JPY and AUD/JPY gaining over 2%. Nevertheless, we are cautious heading into the session as Asia generally tends to consolidate overnight moves and I would not be surprised to see some of the same. A quick look at the USD/JPY chart shows resistance at 97.40 and 98.85 and I’ll put the chart up in the next few minutes.
Elsewhere, the world is returning to normal with a 1-0 win to the Arsenal!
Good luck today.
