Not everyone is jumping on the reflation bandwagon. Morgan Stanley has just recommended to clients that they stay underweight equities.
EUR/JPY profit-taking is accelerating with the cross down to 135.50 from 136.50 in under an hour after that support gave way. Looks like a medium-term top is in.
EUR/JPY has broken support at 135.70 and now targets 135.30 and 135.00.
EUR/US has a modest area of support around 1.3465/70 with better support down at 1.3440
