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Amid improving risk appetite JPY crosses........>

YEN
YEN: Amid improving risk appetite JPY crosses firmed across the board in Asia
lending support to the majors. EURJPY squeezed through Y128.00 to Y128.29 and
largely consolidates gains into Europe. Resistance at Y128.54 (May28 high),
opening Y128.75/88 (61.8% Y131.30-124.62, May24 high). GBPJPY printed Y146.73,
expect resistance on approach to Y147.00. Strong Australian Retail Sales broadly
supported the AUD, AUDJPY touched Y83.59 with eyes on the 100-dma (Y83.69) for
the next leg higher. CADJPY improved to Y84.80, double-top resistance seen on
approach to Y85.00 (Y84.90/96 - 100-dma, May30-31 highs). NZDJPY lifted to
Y76.87, resistance at Y77.09 (50% Y79.61-74.56).   

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