JPY Trading Outlook (11-11-2010)

The Japanese Yen (JPY) rallied as the market turned slightly bullish after consolidating for the previous few trading session and the Dollar gained ahead of the G20 meeting. Resistance was found ahead of Y83 but the market has been short for months so on the lookout for a short covering rally. Overall the USDJPY traded with a low of 81.54 and a high of 82.80 before closing the day around 82.30 in the New York session.

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