An outside day (higher high, lower low than prior day) reversal at a peak is a bad thing for longs, and prices are reflecting that as specs head for the sidelines with the loss of Friday’s lows around 1.3515.
EUR/JPY is looking toppish as well after dipping below an area of support around 131.20 on the short-term charts. Two way traffic is back with dealers beginning to accept that the ECB is going to jump on the QE bank wagon in the not-too-distant future, so there is no place to hide, except perhaps in gold.
