JPY Trading Outlook (27-04-2011)

The Japanese Yen (JPY) USD/JPY traded at new lows after failing once again to get above Y82 resistance. USD weakness is encouraging new lows in the market but many players are waiting for today&rsquo s FOMC decision to pick fresh direction. Overall the USD/JPY traded with a low of 81.25 and a high of 82.00 before closing the day around 81.40 in the New York session. UPDATE MARCH Retail Sales -8.5% vs. 0.1% previously y/y.

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