I think today’s action in the FX market will turn out to be a pure Yen-crosses move. Firstly we’ve seen USD/JPY recover by 150 pips from overnight lows and later I’d expect the EUR/USD and cable to recover any lost ground.
AUD/USD is showing the way after breaking above its short-term bearish trendline and I would buy any intraday dips now back towards .9650 looking for a retest of .9750.