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JPY Trading Outlook (29-11-2010)

The Japanese Yen (JPY) Broke above Y84 as the market uptrend continued. The price actions has been very subdued the but the direction is undeniable grinding higher over the last 2 weeks. Yen crosses are much more mixed with AUD/JPY and EUR/JPY lower on risk off trading. Overall the USDJPY traded with a low of 83.58 and a high of 84.18 before closing the day around 84.05 in the New York session. UPDATE October Retail Sales -0.2% vs. 0.8% forecast y/y.

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