EUR/JPY: Optionality expected at 115.00
No sign yet of any slowdown in the EUR/JPY bull move and I suspect that Japanese investment funds have been buying this morning. The high so far has been above 114.70 and there are expected to be barriers in place ahead of 115.00.
Japan’s core CPI came in at -0.6% YoY, meaning that Abe and Co will have a tough job getting to their 2% target.
More Yen selling is also helping the Nikkei, up by over 0.75%.