EUR/JPY has seen a round of selling in the last 10 minutes, pushing prices back below 117.00. Related markets are contributing to the slide but don’t appear to be the sole reason. US equities are down about 1.9%, not too far from session lows.
Poor data in both the eurozone and US have upped risk aversion once again with few seeing an economic turnaround until 2010 as signs of an economic bottom are few and far between.
Overnight lows at 1.3029 are eyed in EUR/USD near-term with stops clustered just below 1.3000 near-term.
EUR/JPY is making fresh lows as we write having triggered stops below 117.20. 116.70/80 is support near-term with more at 116.10.
