PM Abe made lots of bold statements in the weekend press, and a joint-statement between the government and the BOJ is being touted for the next meeting, but the Yen has disregarded all of this and has started to make some small gains; it will be interesting to see if Europe consider’s this to be a sign that the powerful recent trend is stating to weaken?
EUR/JPY is hanging around session lows just above 114.80 and we may get a test of Friday’s 114.30 lows at some stage later today. Resistance levels now looking more solid at 115.50.