European open: Still prefer to play market from short-USD side
- USD/JPY broke below the 200-DMA at 96.68 but failed to trigger stops below 96.50;
- Semi-official names remain the noted buyers on dips;
- JPY crosses are higher across the board after Asian session;
- I think USD/JPY will struggle to break above 97.20/30 and any further gains in Yen crosses will come through the components;
- AUD/NZD continues to edge higher.