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Forex Flash: One month target for USD/JPY remains at 92 - Westpac

FXstreet.com (Barcelona) - The USD/JPY moved away recently from multi-year highs and analysts at Westpac see that the decline could continue as they have a one-month target fort the pair at 92. “Yen bears are running out of fresh news to inspire JPY decline, potentially setting up for a sharp reversal. Our one month USD/JPY target remains 92. USD/JPY is last at Asian session lows 94.12.

Forex: EUR/AUD keeps pushing below 1.2250

EUR/AUD is again adding loses though this time from current Aussie strength, last at 1.2228 in the EUR/AUD cross, off fresh 4-month lows at 1.2222 printed in late NY trade. The cross leaves behind the 200 day SMA around the 1.2413 level, falling for third consecutive day following Cyprus bailout deal, and subsequent EU's chairman comments. EUR/AUD is down -1.64% for the week so far, while -3.73% year to date.
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