EUR/JPY has broken out of its tight range capped by the 116.50/55 level and has squeezed up to 116.80 thus far. EUR/JPY has not played its typical risk aversion role today and the fact that it did not go down has prompted shorts to begin squaring up positions.
Small offers are scattered from 117.00 up to 117.80. A gap on the short-term charts at the Asian open Sunday night extends from 117.80 up to 118.3, should EUR/JPY gather some upside momentum.
