USD/JPY holds the key again; bias still very bullish
- Massive optionality at 100.00;
- Heavy stops directly above 100.10;
- ACBs reportedly buying dips but trailing stops below 99.20;
- AUD/JPY has made a strong technical break higher.
Risk-reward favours the bulls but I prefer some range trading first, maybe 99.10/90 on outside, with a strong bullish bias.