Having breached the daily tenkan line earlier (89.02) and tripping stops to lows of 88.365 (EBS) the pair’s pulling back aided by the EUR/JPY and AUD/JPY which have both hauled themselves back above there respective tenkan lines at 117.75 and 93.63.
Multi day closes below these lines would hint at an end to the recent trend, but all are well above their respective daily Ichimoku cloud tops.
USD/JPY bids remain down in the 88.20/40 zone and again down at 88.00/10 with sell stops below. Offers sit up at 89.30/40 and 90.00/20 with buy stops remaining on a break of 90.30
EUR/JPY also has rising trend line support from Dec 10 lows coming in today around the 116.60/65 level. Offers are now seen towards 118.90/00, with more seen towards the early European highs up around 119.40. Near term support now picks up around 118.00 with tech support below at 117.75.
AUD/JPY support now seen at 93.00/10, offers 94.20/30 (early European highs) ahead of larger up at 94.90/00.
