Stocks help risk on flows into the JPY crosses
The EURJPY is rising with 5 of the last 6 hours seeing higher levels. The run to the upside has been helped by rising stocks. The Nikkei is up about 0.9%. The Shanghai composite is up 1.3%. The S&P/ASX is up 0.75%.
Technically, the pair has reached up toward the 100 hour MA at 125.637. The high price has reached 125.623. Traders have a cause for pause as risk can be defined and limited against the level. It will take a move above to solicit more buying. Stay below and the sellers are still in control.
