The major sentiments prevailing the USD is strong, while Cable has started a relief recovery weighing on poll survey for next September referendum. Beside these reports, we have seen the market volatility spread over the rest of the currency market including London's Gilts and Options market.
With the USDJPY reaching a record 107.52; triggered institutional the finality of seeing a follow-through plus a volatile action with the presence of volume and momentum accelerating Spill over across the board on Yen related crosses generated a considerable move that followed the past couple of days.
The catalyst that pushed the USDJPY beyond the 105.30/50 level have supported three of the major cross rates; the EURJPY, AUDJPY CHFJPY& the GBPJPY with the exception of the AUDUSD pulling back the AUDJPY on its decline recently. And this resulted the AUDJPY reflected a technically motivation of an engulfing pattern on the weekly chart whenever it closes within current levels.
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