What with Mr Geithner’s visit to Beijing and the NY Times article saying that a Yuan revaluation is imminent, one would think that EUR/JPY would be under pressure this session. Add in to the mix the non-stop negative news relating to Greece and the fact that it’s a risk-off Friday, it would seem a no-brainer. Four reasons to be short and yet the pair has drifted higher since the NY close. Yes, interest is particularly low but I think the market is obviously still a bit short at wrong levels and the stops above 125.35 are too close to be ignored. And hasn’t it just been another atrociously quiet Asian (trading??) session.