The USD/JPY is tipped in a 79.00-79.80 range with its top-side heavy as concerns over the U.S. fiscal cliff weigh on the pair, says Kengo Suzuki, forex strategist at Mizuho Securities. "The key is whether the pair could climb back up and breach technical resistance around 79.50-79.75," he says, adding that the stock market will be watched to gauge risk-sentiment. "Concern is mounting over how the lame-duck Congress will tackle the U.S. fiscal cliff," he says, adding that delayed aid for Greece was also weighing on the EUR/USD, which he tips in a 1.2650-1.2820 range. The euro hit a two-month low against the USD Thursday on more weak euro zone data and as Spanish bond yields pushed higher. The EUR/JPY is tipped in a 100.50-102.00 range. The USD/JPY is at 79.50, the EUR/USD is at 1.2744 and the EUR/JPY is at 101.32.
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