The Japanese Yen (JPY) USD/JPY spent another day consolidating falling back to Y90.30 before strong buying emerged and we once again finished near Y91 highs. EUR/JPY had a similar chart pattern for the day but exaggerated the range down to Y121.50 before reversing to Y122.50. Market chatter suggests that there are large buy orders in the lower Y90 region and large unfilled Japanese exporters above Y91.
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