There was demand for EURJPY leading into the Tokyo fix, pushing it up towards 134.20 post fix. With the Shanghai Composite in positive territory, traders are happy to take on intraday risk, even though the Nikkei is lagging.
There is some resistance at the 134.20 area which needs to be broken before we can see further gains towards 135.00. Good support lies at 133.50(the 100 day MA).
