The market may be disappointed by the implicit unlikely need of the OMT programme soon. Earlier, Reuters reported Israeli airstrikes on the Gaza Strip, killing the military commander of Hamas.
The USD/JPY retreated from its highs and fell to 80.16. As of writing, the pair tries to return to 80.30 zone. “We remain overall bullish and favour a sustained break above 80.66 to 81.78/87. This is the upside measured target from the wedge”, wrote analyst Karen Jones, pointing to a drop towards 78.39 if the pair breaks below 79.00.