Risk Aversion Has Come Back Yet Again...

Downside breaks in global stocks suggest that JPY-crosses, like EUR/JPY, are likely to remain under pressure. EU finance ministers will gather on Tuesday evening for a regularly scheduled monthly meeting. Credit market concerns and housing-related write downs are continuing. Heightened risk aversion will be another factor adding to pressure on the JPY-crosses in particular and stock markets more generally. I look to re-sell rebounds in EUR/JPY, using 160.50-161.50 as the preferred sell zone. Back tomorrow.