By FXEmpire.com
The EUR/JPY pair fell during the Monday session as the Euro lost ground from the Friday rally against most currencies. As with all things European, it appears that these meetings last week may have been left with fewer than necessary details for the market feel comfortable again. This particular currency pair does a wonderful job of tracking risk appetite around the world. As you can see, some of the enthusiasm has already come out of the marketplace.
This isn’t to say that we are going to break down seriously at this point, rather than the market has retraced to the 100 level again. We simply think that this market may be a bit of consolidation between the 100 and 98 levels. With this in mind, this is a short-term traders market and we suspect that it will grind sideways until the Friday release of the nonfarm payrolls number in the United States. Currently, we are flat of this market.
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Originally posted here
