The Japanese Yen (JPY) was well supported on the USD/JPY which tested the Y77 level on the back on the EUR/USD selling Dollar strength. The EUR/JPY however tested recent lows near Y77.50. The outlook for most crosses is in the hands of the Eurozone debt crisis with easing of concerns potentially leading to a Yen sell off. NZD/JPY and AUD/JPY are both holding up well.
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