EURJPY knocks out the day's highs and EURGBP is setting up for a look at the strong 0.7370/75 level

Earlier this morning I noted that traders had seen an increase in interest in euro shorts and yen longs. That's not surprising given what we've seen in that cross. What it does do is make EURJPY the stronger euro trade trade at the moment and it's currently the driver, not the passenger in the EUR car

The run to 134.55 has undone a lot of yesterday's move and that's helped pull EURUSD up to 1.1190

EURJPY daily chart

EURGBP is also continuing to gain and we could be seeing another test of the 0.7375/85 area that has featured strongly this year, especially having just broken the short term downtrend top

EURGBP daily chart

As I type EURJPY has jumped to 134.60 now and USDJPY is waking up and popping a quick 20 to 120.47

We're still swinging around within the recent ranges so the edges still need watching