Yen pairs driving core pairs higher, again

It's all about the yen again as core pairs break higher in a rush 12 July 2016

No news out that I can see but the trend is your friend and right now the trend is yen selling.

I mentioned earlier that GBPJPY was a prime mover and that's now posted 136.00 to send cable up to 1.3142 ahead of more offers/res at 1.3150.

AUDJPY up to 78.96 helping AUDUSD take out the offers at 0.7600 to post 0.7628. Stronger offers/res await at 0.7650

EURJPY has chewed through the strong offers/res at 115.00 and lifted EURUSD to 1.1127. Decent offers reported at 1.1150

I warned earlier that the market was still looking something special out of Japan, and it seems they still do. This is now turning into a general risk-on sentiment.