USD/JPY fell for the session on Monday after initially gapping higher in reaction to the EU bailout of Spanish banking system. The action suggests that the 80 level will more than likely remain intact as the market simply cannot get above the area. However, the Bank of Japan is below - and we aren't challenging them.
The NZD/JPY pair is a slightly different story though. The Japanese won't have as much interest in what the Yen trades to the New Zealand dollar, and as a result we think that this pair is ready to continue it's fall.
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