Forex markets are consolidating within a tight range on Monday. It seem that risk aversion sentiment which was in full force last week due to the fears of a sovereign default in the Club Med countries of southern Europe has calm down a bit.
EURJPY was bouncing above the Tokyo open and the 122.00 level for the whole day with the 60 EMA and 122.50 level capping any upward moved (30 MTF chart).
