Mr Market”s having a bash at the the exporter offers stacked up in the 79.80/00 region on the back of the news with a recent high of 79.805 on the EBS after tripping some buy stops through 79.70. There are some buy stops up through 79.90 (tenkan line 79.88) in the mix with larger on a break of 80.00. Offers from option related names and tech resistance sit above in the 80.35/50 area (80.45 Nov 6 High) and larger up at 80.60/70
EUR/JPY is safely engineering itself higher from the psychological 100.00 level where very large sell stops are reported. The recent rally saw some light buy stops taken out through 101.50 ( just below the 55 day MA at 101.56). Above here there’s resistance at the Nov 9 high of 101/75 and tenkan line at 102.15 with likely buy stops just above.
USD’s presently around 79.80 with the EUR around 101.53
