Market still not tired of selling JPY
Once again the Asian market surprises and brings us some very welcome volatility. I must admit I did not see this coming and I was obviously not alone, judging by the speed of the rally in EUR/JPY. We may get occasional sharp and violent dips in this pair but there is no doubt that the trend is up and its gaining in strength. It may be simply a matter of jumping on and hanging on!
Next resistance in the cross is a daily high at 107.95.