Risk off day?

Evening traders and welcome to the US session. We have had a relatively risk adverse day with Yen strength and European woes central themes of the day. USD/JPY has lost the 100 handle. Strongest currency by far today appears to be the GBP, bucking the risk off trend.

EUR/GBP collapsed from a strong resistance level today. Unfortunately, I missed that opportunity. Pin bar formed last night and the move was well underway by the time I woke up this morning.

Chart in focus for me today is the EUR/JPY. Few things of note:

• Price is bound within upward sloping channel in the medium term.
• Significant drop today, breaking the short term uptrend on the H4 chart.
• MVAs starting to turn.

Still keeping a close eye on this one, especially at the 129.5-129.8 area. Will be looking for a sell signal forming in this area in the next 24 hours, targeting the 127.4 area.

The 4th July celebrations US tomorrow, so markets will be relatively quiet. EU interest rate decision on tap and then the NFPs to round out the week. Good luck traders and we'll talk to you again tomorrow.