…as this has to be one of the quieter sessions of late with the exception of sterling’s small collapse and speedy recovery.

Traders are doubtless moderately cautious with the lack of follow through; the markets are short in the risk pairs and clearly showing enthusiasm to continue.

And what happens when the market is short and it doesn’t go down ? the inevitable short squeeze by the speculator market particularly.

The USDJPY is still holding well and if this continues that may help the EURJPY regain some strength.

Chart coming…support rising around 120.00 and targets about every 50 pips from 122.00