FX:EURJPY Euro Fx/Japanese Yen
Have seen a correction lower in the whole Yen Complex after the USD/JPY Y100 failute. The EUR/USD has since fund support under 1.3000 on multiple occasions and may be on verge of short squeeze to EUR/USD 1.33. The USD/JPY has found support in the lower Y97 region and may resume its uptrend for another test of Y100 in coming days. We are looking for the Japanese to start investing overseas but so far we have not seen this. Perhaps the better levels may prompt more action on this front and help compound the Weak Yen story.