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One source highlights Goto-bi demand in JPY.....>

YEN
YEN: One source highlights Goto-bi demand in JPY crosses, with JPY crosses
garnering further support from the Nikkei 225 erasing its early losses following
the elongated holiday weekend, with the index now ~+0.4%.
- USD/JPY last Y108.40. Bulls need a breach of Friday's peak at Y108.60 before
targeting the psychological level of Y109.00, where the rate peaked on Jan 9.
- EUR/JPY last Y124.46 with bulls targeting the hourly high from Jan 11
(Y124.53), followed by the Jan 11 high of Y125.00.
- AUD/JPY last Y78.18. Bulls look for a jump above the Y78.30/35 area, which
covers a series of recent intraday highs, which would open up the 61.8%
retracement of the move from Y84.02 to Y70.64 at Y78.92.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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