Early attempts to boot out the barriers at 84.00 and 100.00 so far failed, but market mood hasn’t changed with a few short term takers using the latest runs to the barriers to lock in some profit.
Hard to fight such an obvious trend at the moment, with the phrase ‘patience is the better part of valor’ springing to mind..
EUR/JPY’s still on course for a return to the March 22 highs at 111.23 and the USD’s next target beyond the 84.00 barrier is the March 16 high of 84.19
EUR/JPY’s has some tech/support in the 109.50/60 zone and down at 109.00/10, but providing the 108.65/75 (50% fibo retracement of 123.333-94.12 at 108.725 ) holds up, i ‘d be inclined to sit tight for another move higher…
Large option expiries at 83.50 and 83.75 today will likely keep the USD/JPY handcuffed until the NY cut
