US yields turned lower again and the weight of Japanese corporate selling looks to have won the day. The short-term range remains fairly clear with edges at 82.30 and 84.30 and as we are right in the middle, it’s difficult to have any intraday bias.
From a technical perspective, there’s now the possibility of a double-top forming at 84.30 which would be confirmed by a break below 82.30. The obvious technical trade here is to sell rallies back towards 84.00 with a tight stop above 84.50.
