it is probably just a coincidence, but EUR/JPY traded up to the 10-day moving average at 123.57 before easing back to the present 122.68 level. Equity markets have shed more than half their gains, likely influencing the markets more than the technicals, but the combination didn’t hurt. Volatility is falling across the markets today with range-trading becoming entrenched. That is probably a good thing as high volatility has done nothing but drain my retirement account. The Dow is up 60 points at writing.