JPY Trading Outlook (13-01-2011)

The Japanese Yen (JPY) the major was supported from strong Crosses with AUD/JPY and EUR/JPY leading the market higher in buoyant trade. The Y83.50 to Y82.80 range has been holding for a week now with the market hesitant to pick direction. Overall the USDJPY traded with a low of 82.80 and a high of 83.48 before closing the day around 83.05 in the New York session.

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