EUR/JPY solidly above 103.00 prompting yet another wave of short-covering in that cross.
Having closed above its 200 day moving average of 102.77 on Friday as well as the 50% retracement of the 111.40/94.05 decline, bulls have the bit in the teeth. 104.78 is the next upside target, the 61.8% retracement of that same decline.
