USDJPY is on the ropes as it heads towards 111.00

The spill is picking up pace

A bit of USD weakness and a bit of yen strength is behind the latest move in USDJPY. We've just nudged under minor support at 111.10 but 111.00 has put the breaks on that move and we've bounced back above the minor support, though the bounce looks weak.

USDJPY 5m chart

Yen pairs are looking softer too and CADJPY on it's knees will also be aiding USDCAD on it's run higher. The CAD also has one of its 8 eyes on oil, also down near lows, while the USD is watching bonds where 10's are under 2.30% again. Stocks have turned red and things are just looking a lot less rosy around the place right now.

We're not making big waves (apart from USDCAD which has been on a big wander again) but sentiment is souring. Of course, we could be seeing some end of month action too.