Yen giving back last week's strength

FX:GBPJPY   British Pound / Japanese Yen
Market open on Sunday started off with JPY giving back some of the strength it developed during the previous trading week. The blue horizontal lines represent that return back to previous price levels and a ranging/consolidation area. JPY strength could be found if markets run out of positive news, but equity markets still continue to move up, with SPX nearing 3,000 again.
Comment: Yen picking up strength, which could be a sign that FX is leading markets into bearish trends