Morning momentum gave way to modest retracements to the topside in the likes of EUR/JPY, USD/JPY, EUR/USD, AUD/USD over the last 90 minutes or so but it looks like the market has little appetite to turn the markets on a dime just yet/ US equities are heavy once again, hanging around the 877 support level that we’ve yet to close below.
Traders will likely take their cues from stocks from here on out as fresh intellectual horsepower is hard to come by after such a trying week for the markets.
Support for USD/JPY lies in the 91.80/92.00 window (where Kampo is rumored to have bought earlier today). We trade now at 92.18.
