Forex: USDJPY recovering on early Asian trade

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The greenback since the opening of the Asian session has recovered some losses from the previous week, gaining some 51pips against the Japanese Yen. However, the trade is very thin due to Easter holidays and the market can be easily subjected to manipulation. The risk appetite has returned in the markets and brought some buying demand for the USDJPY pair, triggering some buying interest as well for the EURJPY which gained some 95 pips to climb to a session high of 120.02 at 01:00 GMT paring most of the losses from the previous week, remaining though well below from the 11 month high of 123.31 achieved on the 11th of April, as a result of the coordinated intervention of the G7 central banks, after the catastrophic quake and the nuclear crisis in Japan which pushed Yen to all time highs against most of its major counterparts. Currently the USDJPY is trading at 82.24, while the cross pair is trading at 119.89.