EUR/JPY is consolidating losses after dipping below support at 161.80 a short while ago. The cross has given up better than 50% of the gains reported last week and has its eye on an area of support between 161.30 and 40. There is hourly support at 161.40 and Fibo support at 161.30 (61.8% of 160.15/163.15). A break of that area reopens a path to the 160.15 once again.
Oil has turned higher once again and stocks are well offered suggesting both the dollar and EUR/JPY could struggle for the balance of the session. Have a great afternoon and we’ll see you again tonight.