Down a bit, up a bit and then back down a bit. That’s the story for the JPY crosses and I would suggest that the remainder of the session will be quiet. Technical resistance in the form of the previous bullish trendline in EUR/JPY is holding thus far. The major level to watch now is 94.50 in USD/JPY- if that level can be broken then many non-believers such as myself start to take notice of the bear argument.