JPY Trading Outlook (01-12-2010)

The Japanese Yen (JPY) Yen cross selling overwhelmed the USD/JPY uptrend pushing the major back below Y84 to find support in the mid Y83 region. AUD/JPY and EUR/JPY led the move lower in the European session. Overall the USDJPY traded with a low of 83.41 and a high of 84.29 before closing the day around 84.70 in the New York session.

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