JPY Trading Outlook (20-05-2011)

The Japanese Yen (JPY) the major broke above Y82 with positive momentum after the weekly jobless claims. The gains reversed later on though after weaker US data releases. Yen Crosses all edged higher even with commodities under pressure. Overall the USD/JPY traded with a low of 81.45 and a high of 82.24 before closing the day around 81.65 in the New York session.

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