The Shanghai Composite Index has shrugged off the overnight fall on Wall St, reversing its opening loses, to trade in positive territory. Its trading up 1.1% at the moment after opening down 0.09%. That coupled with a strong Australian Q2 GDP and AUDJPY buying, has seen “risk” back on. EURJPY has jumped back above 132.00, USDJPY is knocking on 93.00 and EUR has been dragged up with EURJPY.
Watch 132.20 on EURJPY, some seller there. Above that and we see 132.70, otherwise it will be seen as a kneejerk reaction up, which will see it lower again.
