Large Japanese offers are said to be capping the market at 93.00 level but the market has come back for another bite at the apple, trading now at 92.97. EUR/JPY has broken cleanly through 121.00 and now trades at 121.33. EUR/JPY is at session highs of 130.50 as well. Hopes for medium-term bottoms in EUR/USD and EUR/JPY continue to build. The outlook for EUR/USD will brighten further with a break of 1.3080/85.