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JPY Trading Outlook (30-09-2010)

The Japanese Yen (JPY) quiet trading but with a downside bias continued with Y83.50 tested in Europe before stabilizing and remaining in a tight range for the rest of the day. EUR/JPY is holding firm above Y113 with the market waiting for fresh news. Q3 Tankan Survey 8 vs. 7 forecast. Overall the USDJPY traded with a low of 83.48 and a high of 84.11 before closing the day around 83.65 in the New York session. Update August Retail Sales at 1.4% vs. 4.4% y/y.

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