Forex Flash: EUR/JPY will probably be the lead pair in Asia - FXWW

FXstreet.com (Barcelona) - Following the break of a 3-day inside bar during the last Asian session, and achieving a peak at 107.90 - new 7 month high -, courtesy of more pro-radical easing comments by the BoJ, the pair retreated all the way down to 107.20 through Europe, only to see anti-Yen flows come back mid American session to currently test offers at 107.80/85.

According to FXWW Founder Sean Lee, "EURJPY will probably be the lead pair in Asia again" , adding that "those protecting the 108.00 barrier probably had a good night, being able to re-load at lower levels for the next defensive action."

Ahead of the US NFP number on Friday, Sean thinks some profit-taking should not be ruled out, "but I suspect that 106.50 will provide formidable support on any dips, with initial support on the short-term charts at 107.20" he says.