JPY Trading Outlook (10-01-2011)

The Japanese Yen (JPY) fell with the weaker than expected US Jobs Data back below Y83 before finding support and consolidating just above the figure. EUR/JPY fell to multi week lows under Y108 and is poised for more losses as sentiment sours. Overall the USDJPY traded with a low of 82.86 and a high of 83.67 before closing the day around 83.05 in the New York session. Looking ahead, Bank Holiday today in Japan

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