JPY Trading Outlook (14-06-2011)
The Japanese Yen (JPY) was able to push higher in the Asian session on the major before reversing back down to Y80 in Dollar weakness late in the day. Most crosses ended slightly higher on the positive bounce off lows in stock markets. EUR/JPY is a very important cross and has been under heavy selling pressure in recent sessions. Overall the USD/JPY traded with a low of 80.07 and a high of 80.70 before closing the day around 80.20 in the New York session. Looking ahead, BOJ Rate Announcement forecast to hold at 0.1%.
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