With stocks back in the black (setting up the chance for 5-straight rises this week), yields backing up and commodities firm, the reflation trade us doing that voodoo that it do. EUR/JPY is edging higher as a result, zeroing in on the high for the week set on Wednesday at 133.40. We trade now at 133.15 after reaching 133.30 a short while ago. 133.90/134.10 is the next zone of resistance if 133.40 is overcome on a sustained basis.
