As I mentioned at the close last Friday, the big question is whether the JPY will begin weakening again after having formed pin bars on the daily charts against a number of currencies especially the USD and EUR.
So far today, Friday's reversal has continued, there was a quick MTFM trade on EURJPY long at 9am London time this morning when H4, H1 and M15 engulfing bars all printed at the same time for +50 pips of profit until it hit last week's opening level.
Since NY opened about 45 minutes ago, the JPY has begun strengthening again, but it is too soon for any trade set-ups from this.
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