USD/JPY is picking up where it left off at the end of US trading yesterday as it climbs above 107.00 and to 107.15 –breaking the Asia-Pac high.
Meanwhile, as the fear and volatility from last week continues to dissipate the market is refocusing on the problems in the eurozone and that the ECB is talking about buying corporate bonds. Alongside some dollar strength, that has pushed EUR/USD down to 1.2667.
Levels to watch:
USD/JPY rumored sellers at 107.20-30 and 107.50-60
EUR/USD buyers 1.2650, 1.2635-40 and 1.2600-10
I like the look of USD/JPY charts, especially if the minor downtrend/wedge breaks to the upside.
USDJPY 30 minute chart
