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JPY crosses benefited from the improved risk....>

YEN
YEN: JPY crosses benefited from the improved risk tone overnight, before paring
light gains ahead of Europe. EURJPY closed above the 100-dma (Y129.22)
yesterday, improved to Y129.76, before falling short of the double-top
resistance area at Y129.80/85. Bulls continue to look for a break above Y130.00
to challenge the 200-dma at Y131.13. GBPJPY holds above 145.00, targeting the
100-dma & Sep11 high at Y145.85/92. AUDJPY amid the backdrop of a strong AU
Labour report lifted to Y80.21 before meeting resistance from the 50%
retracement of Y81.79-78.68. Rate trades a few pips either side of Y80.00 at
typing. CADJPY closed above the 200-dma (Y85.39) yesterday and has largely
consolidated gains, tied to a narrow Y85.50-765 range. Fonterra losses has taken
the shine of NZD with the cross only registering minor gains to Y73.14.   

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