As has been the pattern over the last week, USD/JPY ran into strong selling on the approach of 100.00. today’s rally reached 99.72, overcoming the 99.70 high from October 28 and 99.64 from yesterday.
EUR/USD’s rally came up a bit short of recent resistance near 1.2880/1.2900. It stalled at 1.2855.
128.50 is the near-term upside target for EUR/JPY, reaching 12804 this morning before running into profit-taking. Dealers will likely look to the opening of the cash equity markets on Wall Street for further direction near-term.
