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May 13 - 10:55 PM

USD/JPY - JPY Crosses Very Buoyant Despite USD/JPY Back-Track

By Haruya Ida  —  May 13 - 09:09 PM

• JPY crosses remain very buoyant despite USD/JPY back-tracking lower

• Suggests Tokyo, other centres not as bullish on yen as in recent past

• That said, seems market not ready to turn to a bullish USD view

• Tokyo and players in other centres taking middle way, buying JPY crosses?

• EUR/JPY 164.85-165.13 EBS in Asia so far, near 165.20 high yesterday

• High yesterday best since 165.29 on Nov 8 '24, peak then 166.65 Oct 31

• GBP/JPY 195.95-196.41, best since 197.53 on Jan 8 earlier this year

• AUD/JPY very well bid as of late, 95.28-56 after rally to 95.63 yesterday

• 95.63 just shy of 95.74 high on Mar 18, 96 try in cards?

• Cross on hold for now between its 100/200-DMAs at 94.49/96.58

• On EUR/JPY , USD/JPY , for more click on [FXBUZ]

EUR/JPY:


GBP/JPY:


AUD/JPY:


(Haruya Ida is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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