USD/JPY shot straight up on Tuesday as the Bank of Japan has announced continued and expanded bond buybacks and other such programs to bring the value of the Yen down. However, the 80 level looms large, and we think that is where the real battle is.
The USD/CHF pair looks as if it is trying to build a base just above the 0.91 level, and the 0.9250 level seems to be the top of the recent consolidation. The pair looks like it wants to rise, and with the Swiss working against the value of the Franc - it probably will.
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