The Japanese Yen (JPY) the USD/JPY broke Y80 with little fanfare falling to Y79.80 in gentle but solid selling. The market has not been able to regain the Y80 level so far and this is a negative sign. Crosses are more resilient bouncing off lows in Asia but with stocks pulling back off highs the temptation to buy with USD/JPY under pressure may be dampened.
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