EUR/JPY is back testing resistance levels around 135.50 but in the absence of some serious momentum, which we haven’t seen for a few months, further gains are likely to be hard fought. EUR/USD is still having trouble getting above 1.4100, with option sellers being blamed, but this pair is also having trouble dipping too far and so is not allowing the option sellers to reload. Surely a sign of an imminent rally. USD/JPY sees some very big bids down at the 94.75/95.15 area and this is frightening off potential sellers. AUD/USD finally broke above selling interest at .8085/90 but the follow through has been less than stellar. Watch for more selling interest at .8100 and trailing stops above .8110. Cable needs to break above 1.6650 in order to get out of its range trading mentality.
Good luck today.
