JPY crosses/Technical Analysis

JPY crosses: Further gains likely overall

With QE3 now expected sooner rather than later, further gains in the Yen crosses would appear to be very likely.

  • EUR/JPY has exited a consolidation phase (98.00/99.00) and looks set to test highs near 101.70 in coming sessions. Buying dips is favoured here.
  • USD/JPY is likely to trigger those large stops below 77.90 but I fancy buying a bounce off 77.50.

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