After a very volatile first few weeks of the year, the market seems to be content to largely traverse established ranges this afternoon. In the absence of fresh stimuli, the old EUR/JPY equity relationship seems to be lining up once again. US equities have roughly halved their early losses, helping lift eur/jpy to the 115.50 area from morning lows of 113.95.
Resistance lies now at the 115.90 level followed by London highs of 116.55/60.