The EUR/JPY and USD/JPY are up on buying from model funds, leading other JPY crosses higher, says a senior dealer at a major Japanese trust bank. "Asian stocks remain firm despite the U.S. ISM's fall (below 50) last night," he says. "Risk-averse positions built ahead of last week's EU summit are still being unwound." The EUR/JPY is at 100.45 from an earlier low of 99.89. The cross may rise to 101.50, where it is likely to face resistance. The USD/JPY is at 79.80 from an earlier low of 79.41. The AUD/JPY is at 81.93 from an earlier low of 81.27.
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