JPY Trading Outlook (14-04-2011)
The Japanese Yen (JPY) the USD/JPY move to day highs at the start of the US session on some EUR/JPY buying but this was reversed later as analysts downgraded US GDP forecasts and US Bond yields fell in response. USD/JPY moves are closely linked with US bonds yields which are used by traders to predict the timing of US FOMC Rate Hikes. Overall the USD/JPY traded with a low of 83.55 and a high of 84.28 before closing the day around 83.80 in the New York session.
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