How? By squeezing the shorts in EUR/JPY.
The USD/JPY rally accelerated as EUR/USD found a floor in the 1.3810/15 area, just ahead of rumored 1.3800 barriers.
EUR/JPY kicked into high gear, rising from 112.80 to about 13.05 since that time. Stops in that pair are clustered above 113.25.
USD/JPY has been as high as 81.73 and trades now at 81.65. Offers are stacked from 81.85 to 82.00 but stop-loss buy orders kick-in just above 82.00.
