All rather like pulling teeth really, but it’s been a steady climb from overnight lows around 79.42 to 79.86 this morning and were still holding at the upper levels.
The ichimoku daily cloud base comes in around 80.07 should we break up through 80.00 and there’s talk of buy stops just above there and barring the EUR/JPY getting another kick lower from the NY session, the tone looks a firm one for the moment.
EUR/JPY’s tacked on another 80 pips or so this morning and sits just under 100.50 after earlier highs of around 100.70. Offers sit up just ahead of 101.00 and 101.30 with a break of 101.65 likely to encourage a sharper move up towards the 103/104 zone.
