The Japanese Yen (JPY) the EUR/JPY got all the attention on Friday down to fresh 12 year lows near Y97. The MOF head commented that Euro falls had been rapid but did not talk about intervention on Monday. The outlook for the USD/JPY is mixed with the major currently being pulled down by EUR/JPY selling and no one ready to buy the USD/JPY at these levels when intervention is still 130 pips lower at the Y75.50 level.
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