Bulls will probably be getting a bit nervous by the inability to crack through these barriers but on the other hand they will be keen to stay long just in case the level breaks and we get another sharp rally. I’m sidelined here with no particular bias just yet, preferring to wait and see how this fight develops.
The Yen crosses are similarly positioned although AUD/JPY does look like it is losing short-term momentum. As for the completely out-of-control NZD/JPY rocket! I’ve stopped looking, I’m getting blinded 🙂