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A bit more drama than we normally see on a Monday today as the USD moved a bit more decisively than last week in USDJPY terms, slicing more forcefully up through the 110.00 level and following through on the prior attempts at that level.
That chart is a particularly challenging one given the large-scale sell-off from which the pair is retracing and general feeling that JPY could change character rapidly if global risk assets lurch back into risk off mode, although JPY tends to have at least one eye on bond yields as well.
Elsewhere, the USD break to the upside becomes more complete if EURUSD can push more forcefully through 1.1300 than it did intraday today. That marks the sixth foray below that level for this cycle since the first one back in November. Breakout signal tracker
The AUDUSD downside breakout is one worth looking into, but we are already short AUD in AUDCAD and may prefer to have a look at an NZDUSD short in the even of a break lower after the Reserve Bank of New Zealand tomorrow night (very early Wednesday in Asia). We are also waiting to add EURUSD to our breakout signal tracker.