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JPY Trading Outlook (11-04-2011)

The Japanese Yen (JPY) reversed direction with the USD weakness prompting a move back below Y85. Most crosses were strong with movement in the majors counteracting the USD/JPY move lower. The outlook for the Yen is closely tied with the fate of global stock markets with the safe haven currency sold when stocks go up. Overall the USD/JPY traded with a low of 84.65 and a high of 85.40 before closing the day around 85.80 in the New York session.

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