Technical Analysis

EUR/JPY rebounds from test of the March lows

EUR/JPY up 55 pips today

EUR/JPY longs are the top trade today as the pair benefited from a technical backstop at the March lows just under 124.00.

The pair is up 54 pips to 125.00. It’s the second day of gains after a three-day slump last week.

In the bigger picture, the yen crosses are moving in a bit of a bloc as the ebb and flow in risk trades, yields and global equity markets bounce around.

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