USD/JPY: Favour selling intraday rallies for test of 98.30
- The possible Head-and-Shoulders formation in EUR/JPY is still relevant.
- AUD/JPY looks to be in 90/93 consolidation.
- USD bulls getting nervous ahead of another Bernanke speech?
I favour selling intraday rallies in USD/JPY. I’d expect it to stay below 99.50 and target 98.30 in the short-term.