It looks like yen pairs are holding the line for now, helped out by a retreat in Treasury yields since yesterday. USD/JPY ran up against 135.00 only to fall back while EUR/JPY tested the highs from October last year before falling back under 147.00 now, and we are seeing AUD/JPY stumble upon a test of its 100-day moving average and falling back under 90.00.
The aussie is also seeing a rejection against the dollar, with AUD/USD having run into resistance from its 200-day moving average at 0.6741 since yesterday.
Those are some of the more notable moves in FX and we could be getting a bit more action depending on the PMI data in Europe later today.
Besides that, gold continues to chop around the $2,000 mark and WTI is nearing a test of its 100-day moving average at $76.80 so that is one to watch out for as oil prices continue to eat into the gap higher at the start of the month.
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