It looks like yen pairs are holding the line for now, helped out by a retreat in Treasury yields since yesterday. USD/JPY ran up against 135.00 only to fall back while EUR/JPY tested the highs from October last year before falling back under 147.00 now, and we are seeing AUD/JPY stumble upon a test of its 100-day moving average and falling back under 90.00.
The aussie is also seeing a rejection against the dollar, with AUD/USD having run into resistance from its 200-day moving average at 0.6741 since yesterday.
Those are some of the more notable moves in FX and we could be getting a bit more action depending on the PMI data in Europe later today.
Besides that, gold continues to chop around the $2,000 mark and WTI is nearing a test of its 100-day moving average at $76.80 so that is one to watch out for as oil prices continue to eat into the gap higher at the start of the month.
What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.