It seems talk of Sovereign names seen buying EURUSD below 1.4690 has squeezed some intraday shorts in both EUR and EURJPY. EURUSD swung back up quickly towards 1.4745 and EURJPY back above 132.00 after stops were tripped sending it to 131.00. Traders will be cautious in testing the downside again in Asia unless it is flow driven.