Clear signs that Tim Geithner will be confirmed despite his spotty record as a taxpayer are helping lift Wall St. this afternoon and EUR/JPY is rebounding along with shares. EUR/USD is up to 1.2885 from 1.2826 lows while USD/JPY is at 88.40 from 87.15. Key support at 87.11 held amid a frantic flurry of stop-loss selling late in London trading this morning.
EUR/JPY has bounced to 113.90 from 112.08 and is back above 113.60, the former trend low, broken earlier today. Intraday shorts are covering as prices move back above those old lows at 113.60.