Recently back from annual O-Bon holidays, Japanese traders are looking to buy JPY crosses on the day. EURJPY has seen a nice move up from 133.80 up towards 134.50, as bargain hunters have been seen buying. It has since pulled back toward 134.10, with no demand seen at the Tokyo fix. Japanese players look to be buyers on dips today but it will be dependent on the Nikkei which is slightly in positive territory at the moment. Support on the dayat 133.60 and resistance up at 134.80.
