The Asian market has a talent for throwing spanners in works and that’s just what it’s doing to the “end-of-the-financial-worlders” who were out in force this morning. The FT article regarding IMF aid to Greece, the new Chinese measures to curb the property bubble and the Australian CPI result are all having an effect. Shorts in the JPY crosses are being forced to cover. As I mentioned earlier, trailing stops in the EUR/USD above 1.3260 may come into focus earlier than anticipated. I’ve also heard of some new offers in EUR/JPY around 124.40/50 so that’s another level to watch.