FX EUR/JPY: Mimicking USD/JPY but seen better bid, 105.55-60

23:07 |

Though a bit on the soggy side this morning in Asia a la USD/JPY, trading down at around the time of the Tokyo fix, EUR/JPY does look to be better bid with the cross bouncing off of offshore bids from the 110.55-60 region. To wit, the low so far today has been 110.55. The cross has since steadied a bit and trades 110.62/64 currently. A high of 110.88 was seen earlier. Some resistance remains ahead of 111.00 and then the overnight high of 111.25. Support below 110.50-60 is seen at 110.35-40, 110.36 the low in London overnight.

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