If anything happens during the Asian session then it’s likely to be in cross pairs like GBP/JPY. There is some very important technical resistance between 173.60/174.85 and we are just starting to sneak inside of this resistance band.

The market is already long of this pair so the temptation will be to book profits if it starts to stall again. On the other hand, a break above 175 will undoubtedly force the hand of the big macros and the options market.

Look for some consolidation perhaps in a 173/175 range but the bullish bias remains very strong.