The poor old yen pairs were just staging a bounce too
116.00 has had a test with 116.03 the low. Yen pairs had staged some sort of recovery but that's looking in jeopardy.
USDJPY H4 chart
Things could get interesting if 116 breaks as we might have one of those situations where a sustained weight in this pair can often lead to a bigger blow out. We've been going one way since Europe woke up, so rather than have a quick-ish move then a bounce, it could mean there's sustained pressure mounting and that will blow. Time will tell but be on guard for a quick trip to 115 if 116.00 does go.
In the meanwhile, the euro is taking advantage and has moved up to the nest resistance band around 1.0580.
