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Forex pairs in this Article » USD/JPY
FXstreet.com (Barcelona) - The USDJPY resumed its rally up to 82.26 high as the market is still pricing in LDP's Shinzo Abe remarks about his intentions when in government. Replying to BoJ's Shirakawa, he explained that he didn't say he was in favor of the BoJ underwriting bonds from the government directly, but buying bonds from the market. He also corrected the "3% inflation" remark to 2 to 3 pct.

Abe plans to change the Constitution in regard to the "right to self defense", increase military spending and send officials to the disputed islands with China. Also, he would cut corporate tax rates strongly and welfare in 10%.

"Immediate upside target lies at 82.20, May highs and 83.32, weekly 150 day MA, to possibly open way towards psychological 83.00 barrier", wrote Windsor Brokers analyst Slobodan Drvenica, admitting the near-term bulls fully in play,
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