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Forex: AUD/JPY showing weakness below 95.50

AUD/JPY is currently at 95.37 near session lows at 95.26, on the back of Yen strength and Aussie weakness, off recent session highs at 95.75. The cross is down -0.24% since previous weekly close Friday, while all Asian markets but Australia and NZ are closed for holiday.

Not much of a move today in Asia-Pacific with liquidity very limited, and Aussie capped below the 1.0325 session highs on worst decline in home loans in Australia since late 2010, according to data released today. Australian index ASX is barely in the positive up +0.06% while Nikkei index closed past week down -0.9% for the very first time since mid Nov, losing -1.8% on Friday alone.

Immediate support to the downside for AUD/JPY lies at recent session/Friday's lows/Jan 25 highs 95.24/11, followed by Jan 14/15 highs at 94.66, and Jan 31 lows at 94.25. To the upside, closest resistance shows at recent session highs/Thursday's lows 95.75/81, followed by Tuesday's lows at 95.95, and Friday's highs at 96.50.

Forex Flash: EUR/USD has found a top in 1.37 - UBS

According to the Head of Foreign Exchange Strategy at UBS, Mansoor Mohi-uddin, "euro bulls should buy euro crosses like EURGBP and EURJPY rather than EURUSD", with the analyst arguing that "the Fed is set to end quantitative easing this year and Eurozone policymakers more apt to comment on sharp EURUSD rises than increases in other euro crosses." In view of Mr. Mohi-uddin, the EUR/USD is expected to trade in a 1.30-1.37 range in the next few months.
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Forex: GBP/JPY holding barely above 146.00

GBP/JPY is currently at 146.19, slightly lower from previous weekly close Friday around the 146.43 price zone, off recent session highs at 146.61, and bouncing from fresh session lows at 145.85. With Japan, Hong-Kong and China markets closed today over holiday, price action is very slow, Cable being totally flat since session started.
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