October 12, 2020 at 08:02PM
EURJPY wanders toward 200 hour MA but bounces
Swing area in play below as well
Usually when stocks race higher, there is a corresponding run higher in the JPY crosses. The "party line" is traders are exiting the ‘relative safety’ of the JPY, and/or a flight into the risk of the EUR. Neither is happening today. The EURUSD is lower. The USDJPY is lower.