It looks as though the market wants to see how strong the offers at the 1.4900/05 level are and how big the stops are just above them. We’ve reached the 1.4880s so far. USD/JPY is washed out a load of stops below the 89.20 level and dipped to 89.05/10 area.
Stocks and commodities are remarkably quiet except for gold which now trades at session highs around $1163.