Barclays looks for USD/JPY consolidation. It says although there are not enough reasons for a strong pullback, signs of profit taking in JPY crosses suggest some downside risks within a likely 86.50-87.70 range. The bank says whilst not expected, a break below 86.50 would suggest a near-term top, and a deeper pullback towards 85.00. USD/JPY now at 87.03, EUR/JPY just hit a fresh day low of 114.09.
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