Forex: EUR/JPY dips to 101.00 (San Francisco) - EUR/JPY has been in a steady decline since the weekly opening, having slipped to a session low of 100.97 from an earlier high of 101.43 as an increase in global risk aversion stimulated broad demand for JPY safety.

The paring saw an early boost from weekend reports that the Greek government and the IIF were close to a new debt-swap deal agreement, and the focus in the session ahead will be on an upcoming EU Economic Summit, as well as an Italian bond auction scheduled for 1000 GMT.

EUR/JPY is now quoted in the 101.00 price zone, down 0.33% so far on the day. If the selloff continues in the session ahead, support is noted at 100.80 (intraday), while immediate resistance is seen at 101.13 (intraday).

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