JPY Trading Outlook (17-03-2011)
The Japanese Yen (JPY) once again stole the limelight with the market punching through Y80 to hit large stops and plummet under Y77 before reversing on fears of Government intervention. The whole market is focused on the nuclear incident near Tokyo with fear and uncertainty running the market in wild swings. Overall the USD/JPY traded with a low of 76.72 and a high of 82.06 before closing the day around 78.00 in the New York session. Looking ahead, attention of the ongoing Nuclear Plant disaster.
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