JPY Trading Outlook (21-07-2011)

The Japanese Yen (JPY) came under pressure with risk off trade and weak US data helping push the major and crosses lower. USD/JPY broke under support at Y79 and as it pushes lower the chance of BOJ intervention talk/action grows. Overall the USD/JPY traded with a low of 78.69 and a high of 79.33 before closing the day around 78.80 in the New York session.

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