JPY Trading Outlook (27-07-2011)

The Japanese Yen (JPY) was volatile testing support under Y78 before surging on intervention rumors to Y78.70 in 15 minutes. The gains were reversed almost as fast and fresh lows were seen in the US session as Dollar weakness dominated. Overall the USD/JPY traded with a low of 77.81 and a high of 78.71 before closing the day around 77.90 in the New York session.

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