JPY Trading Outlook (05-04-2011)

The Japanese Yen (JPY) found support under Y84 to finish just above the figure on a strong footing. The pullbacks have been very subdued and a test of Y85 is likely in the coming months. EUR/JPY and AUD/JPY experienced slight profit taking as well but are still supported on dips. Overall the USD/JPY traded with a low of 83.84 and a high of 84.50 before closing the day around 84.20 in the New York session.

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