EUR/JPY and USD/JPY have been moving quite well in relation to each other lately. This strength is merely corrective before the longer-term downtrend reasserts itself.
USD/JPY failed at the major 2006 downtrend resistance of 117.50 area last week, and has since moved 150 points lower to test the 5-month uptrend channel support at 116.00 zone.
The sloppy price action continues in the dollar pairs after a generally as expected payrolls number initially sent the dollar moderately higher before giving back all the gains.
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