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JPY Trading Outlook (14-03-2011)

The Japanese Yen (JPY) was extremely volatile gaining sharply as the safe haven Yen was bought on news of a major earthquake. Japanese Investors caused the Yen to gain as they repatriated overseas money in the times of uncertainty. Overall the USD/JPY traded with a low of 81.64 and a high of 83.29 before closing the day around 81.88 in the New York session. Looking Ahead, BOJ Rate Decision forecast to remain at 0.1% but could announce new emergency measures to support the economy.

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