120.00 has capped the EUR/USD range for better than a month and that solid area of resistance looks like it is ready to come into play once again. No matter what’s gone on fundamentally the last few days, JPY weakness has been the one constant leading us to conclude that a secular shift in attitude against the JPY is underway. That view will be bolstered if EUR/JPY can clear the 120.00 convincingly and USD/JPY can break 94.63.
