After one-way traffic earlier in the session we're now seeing a reversal 7 Feb
USDJPY testing 112.50 offers/res with GBPJPY back above 139.00 after holding 138.50.
EURJPY back up through 120.00 and AUDJPY 86.62 all providing core pair support and limiting USD gains with USDCHF also failing to make too much progress through 1.0000
EURGBP still underpinned but failing to break through 0.8635 and that's also providing a few GBP buyers.
Now we wait to see whether this is just money coming off the table or something more consolidated. IMHO I think the former given that we've come a long way down in quick time but keep your eye on treasury yields too.
