A modest support level at 128.00 in EUR/JPY has given way prompting a pick-up in profit-taking in EUR/JPY, dealers report. The correlation with equities looks to have re-established itself at least temporarily today as the cross sinks along with share prices. US blue chips are down an average of 1.7% in early afternoon trade.
EUR/USD is giving back much of the gains made over night, traing now at 1.1455 from 1.4360 highs overnight/ EUR/JPY trades at 127.50. Support is at 127.05/10 on further pullbacks.
