It’s risk-on after all for USD/JPY, just from much lower levels. The pair slide to 88.02 just before the turbocharger kicked in on the EUR/USD rally which helped lift EUR/JPY along for the ride. USD/JPY has jumped as high as 88.30 thus far. Solid resistance is up at 88.50 intraday. No doubt, stops will be perched just above that level.
EUR/JPY trades not far from session highs, at 112.30.
