USDJPY has managed to hold above the 100 day MA at 91.00 to take out both sell orders and stops above 91.30, trading up towards 91.50. There was two way interest heading into the Tokyo fix, but USDJPY moved higher post fix as traders unwind short positions. Look for some resistance here at 91.50-60, above that and there’s a good chance for 92.50.
EURJPY has been helped along with a bid USDJPY and a EUR standing its ground, trading up above 130.60. Some technical resistance here at 130.75-80, then its higher to 131.60.
The AUD continues to trade 8780 – 8820 range and has traded as expected, with a quick look at 8815, only to be sold into by model traders. As i said earlier, play range, predominantly from the short side, with a bias to the downside.
