…So i’m being told from a major UK bank. Apparently Japanese car companies and some other manufacturers have moved their offers in the EUR/JPY up towards 100.00, expecting a near term bounce to the level.
May well account for the earlier shove up to 98.80 a few hours ago., when the previous resistance at 98.50/60 was breached.
I don’t have much on the order front in this pair but expect some decent bids to surface in the 97.60/70 area should the euro test lower levels. The 99.21 (14 day MA ) level may produce some resistance on the topside should we head higher
EUR/JPY’s at 98.44