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Forex: USD/JPY breaks 94.00; Abe talking down the Yen

The Yen continues to be talked down by Japanese politicians, with the latest selling round (currently underway) just breaking above 94.00 against the USD, after Japan's Prime Minister Mr. Abe was just quoted saying that "buying foreign bonds could be among future option for the BoJ..."

As a reminder for readers, the purchase of overseas bonds by Japan is seen as a riskier, unorthodox option to keep expanding the central bank's balance sheet, having negative connotations for the Yen value in the eyes of speculators. After the headline, the USD/JPY recorded its session highest at 94.10. Immediate resistance lies at 99.45, Feb 11 high.

Forex: EUR/JPY higher above 125 on Yen weakness

EUR/JPY is currently at 125.33, off fresh session highs at 125.48, higher by +0.33% for the week so far mostly on Yen weakness, as EUR/USD prints fresh session lows at 1.3333 and USD index climbs to 1-month highs above 80.5. USD/JPY trades at 2-day highs 93.98, following Abe comments in parliament and a kind of permissive G20 meeting in Moscow over the weekend.
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Forex Flash: Jump in USD/JPY unjustifiable; risk of deeper Yen correction - RBS

The reality in the Japanese Yen landscape, in view of RBS currency strategist Greg Gibbs, "is that not much has actually changed recently, certainly not enough to justify a 15 to 20% jump in USD/JPY."
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