Early Tokyo has taken a dislike to EUR/JPY, selling it down from 137.70 to 137.30. Those players caught long at the wrong levels might be bailing out and reassessing as this pair has certainly come quite a long way in a relatively short space of time. GBP/JPY has also met with some early selling, currently down 40 pips at 161.20. The uptrend in both pairs remains unchallenged but both have scope to drop to 135.80 and 160.00 respectively.