JPY Trading Outlook (10-12-2010)

The Japanese Yen (JPY) struggled to push above multimonth resistance at Y84.40 and spent most of the day with a slight downside bias. Support was found at Y83.50. Q3 GDP at 1.1% vs. 1.0% forecast y/y. &nbsp Overall the USDJPY traded with a low of 83.50 and a high of 84.13 before closing the day around 83.70 in the New York session.

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