The JPY crosses are proving to be very stable at lofty levels with GBP/JPY now consolidating well above 160 and AUD/JPY trying to form a foothold above 80. The USD bears are being cancelled out by the JPY bears which should mean that USD/JPY continues to range trade both in the short and medium term. Dealers report decent buying interest at 97.00/25 and offers are expected to be firm at 98.50/75.
USD/JPY: Decent sized buying interest 97.00/25
Source: www.forexlive.com
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