A short trading week after a US long Memorial weekend & UK holiday would provide a sentiment- based volatile market, a wider price activity towards the end of the month. Although, the Yen's dominating performance in the currency market have influenced the EURJPY & GBPJPY crosses more with its recent move as its gained back its strength.
GBPJPY registered a low @151.77 while the EURJPY reached a 129.95 low before retrieving back their losses at the current market prices @154.00 & 131.68 respectively. Price action at the recent lows have given the currency pairs a technical relief from an oversold area, the same way such a corrective move have given the USDJPY some elbow room in search of a tentative support level before the next leg could be establish. Click here
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