Not having much trouble thrashing 30-40 pips at a clip this morning. We made a run at 1.3500 but were rebuffed again by protection of barriers beginning at 1.3480 and we’re all the way back down into the 1.3330s again. EUR/JPY is seeing some significant profit-taking after a breathtaking run in the first month of the year. Buyers are eyed in the 121.60s on dips near-term but there are some trailing stops seen on a break of 121.50 in the cross. Sizable bids return in the 120.75 area, we hear.