JPY Trading Outlook (25-10-2010)
The Japanese Yen (JPY) managed a small rally on Friday but is struggling to get distance from Y81 as sellers remain on rallies. Expectations that Y80 will be tested and the USD weakness apparent at the moment is keeping buyers on the sidelines. The ability of the BOJ to intervene is also in question given the G20 commitments. Overall the USDJPY traded with a low of 81.00 and a high of 81.50 before closing the day around 81.35 in the New York session.
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