The Japanese Yen (JPY) USD/JPY was dragged lower to Y88 for a strong test of the uptrend overnight. Support was found at Y87.80 before we rebounded aggressively back to Y88.70 in the US session. EUR/JPY amplified the USD/JPY move with a dip to Y116.50 reversing to Y118. The BOJ meeting next week is growing in importance for a market heavily short the Yen in anticipation of major announcements.
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