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JPY Trading Outlook (25-07-2011)

The Japanese Yen (JPY) the USD/JPY remained under pressure with the Yen and CHF the preferred safe havens in light of the US debt worries. Early Monday the USD/JPY traded new lows on news over the weekend that no debt deal had been agreed. These levels are bringing daily comments from BOJ and MOF officials concerns about the strength of the Yen. Overall the USD/JPY traded with a low of 78.25 and a high of 78.72 before closing the day around 78.40 in the New York session.

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