JPY crosses/USD/JPY

Chinese New Year should ensure quiet day in Asia

Morning all. Happy New Year to all those celebrating the Lunar version and I’m expecting a quiet few days, at least during the Asian session. Australia is the only main financial centre open today.

Focus will be on the Yen ahead of the G20 meeting, with Japanese authorities weakening their JPY-negative rhetoric or in some cases reversing it. They are worried about stoking up the currency wars and that should mean that the USD/JPY and JPY crosses are more of a ‘sell-rally’ proposition for the next few sessions.

Good luck this week.

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