Does the latest pullback in equities have more room to run? That is certainly one to watch as we see a continuation of the selling from last week. As mentioned here at the time, it's a question of growth worries and/or quarter-end flows. So, we might not get much clarity until after this week has passed.
For today, the mood is calmer but let's see if that can hold up later when Europe opens and when Wall Street enters the fray.
USD/JPY remains a key pair to watch as it stays underpinned in search of a move towards 145.00 next. Meanwhile, EUR/JPY and GBP/JPY are looking to fresh highs for the year as the yen keeps on the softer side. AUD/JPY is quite the opposite though and may be caught in a series of lower highs, lower lows for the time being.
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