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USD/JPY rebound is bad news for the EUR/USD unless?

The USD/JPY is right now continuing to try and recoup a little more of the losses it suffered earlier today and that is adding some fresh pressure back onto the EUR/USD. Earlier, when the USD/JPY dumped that allowed some very modest upside in the EUR/USD, despite the EUR/JPY crumbling at the same time. However, whatever rebound it delivered was only modest and stalled just above 1.0780 anyway. Well, it is back under pressure right now and that is very simply because the rebound in the USD/JPY is not taking the EUR/JPY with it. That is not precluding a further fall in the cross from here either. Let me do some simple maths for you to try and explain that. So, if the USD/JPY was to trade back to 147 (which is extremely unlikely now) and the EUR/JPY was to stay where it currently is, at around 156.30, the EUR/USD would be at 1.0630. Now I am not saying that will play out, or close to it , but you simply have to run theses kind of calculations from time to time, to get a better idea of how the algorithms work in term of price discovery. So, clearly the EUR/USD could ideally do with a rebound in the EUR/JPY, if it is to really make some headway today. The EUR/USD is currently trading at 1.0766

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