The USD/JPY may trade in a 79.00-79.80 range in Asia, with activities likely to be subdued due to a holiday in the U.S. Monday, Osao Iizuka, head of FX trading at Sumitomo Mitsui Trust Bank. "Unless share prices fluctuate, the currency market won't move much in Asia," says Iizuka. Stop-loss selling orders are seen in place below 79.00 but there is also buying demand on dips, which could limit the downside. The pair is at 79.44 vs 79.47 late Friday in New York. Iizuka tips the EUR/USD in a 1.2670-1.2770. "Although concerns over euzo-zone debt problem have flared up again, worries over the U.S. fiscal cliff are making it hard to keep buying dollars against the euro," Iizuka says. The pair is at 1.2715 vs 1.2709.
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