EUR/JPY chopping around on fiscal cliff headlines
Not many traders playing today and markets usually stay quiet until the start of the second week in January. Japan and China are closed today which obviously takes a lot of potential liquidity out of the market.
EUR/JPY has had a 50 pip range, 114.28/78, with sentiment being purely driven by fiscal cliff headlines.
I’d suggest that a wide 112.50/116.70 range should cover most eventualities for the next few days.