Just in from a red-eye flight minus one bag, so this morning's report will be a bit abbreviated. EUR/JPY continues to climb to new highs, but we have a new focus level that finds Fib confluence right smack dab on 150.00. Just too nice to pass up. Look to buy pullbacks between 149.00-149.15 with 30 point stops. The target will the 150.00 Fib zone .

There was some confusion from last Friday's EUR/JPY short. Those who had stops out at 148.95 were closed out on a good stop right at the high. The spreads I see from our investment banks are a bit tighter which I forgot to consider, so I was barely kept alive in the trade.

Todd Gordon is a Technical Currency Strategist and Fund Trader with GAIN Capital Group.

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