The Japanese Yen (JPY) the USD/JPY traded the Y76.70 to Y76.90 range with the holding pattern seen continuing while the action remains on the Crosses. EUR/JPY held above Y97 with a small bounce in holiday affected markets. The outlook is still negative but traders are always wary of intervention and short covering rally. The AUD/JPY is still well supported and could be looking for a test of Y80 if stocks remain strong.
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