USD/JPY ramps higher to start the session ...Middle East

The moves we're seeing so far today points to the notion that markets are still perhaps seeing the US intervention as being a contained situation. That's reflected in just a mild decline in equities, with S&P 500 futures down just 10 points or by 0.17% currently.

EUR/USD is down just 0.2% to 1.1500 while AUD/USD is down 0.6% to 0.6410 at the moment. So, that indicates the breadth of the move we're seeing in USD/JPY as we get into European trading.

But for now, it's all about going with the sentiment flow and reacting to the headlines.

This article was written by Justin Low at www.forexlive.com.

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