Yen crosses: No strong sense yet that a top wants to form
Even a committed contrarian like myself has to admit that the Yen crosses are very resilient. EUR/JPY couldn’t even retake a minor technical level today, getting with 10 pips of some quite substantial stops but being unable to trigger them. It’s not trading like a pair which wants to go lower.
Of course all can change very quickly but for now at least, the old ‘trend is my friend’ rule applies.