EUR/JPY closed last week around 118.30 as many players covered positions before the G7 weekend meeting. We are seeing a sharp reversal lower in the JPY crosses this morning after the meeting (as expected) had little or nothing to say about currencies.
The low so far this morning in the main cross has been 117.00, EUR/USD is at 1.2810, cable at 1.4210 and USD/JPY at 91.50.
Good luck today.