JPY Trading Outlook (29-07-2011)

The Japanese Yen (JPY) failed to regain Y78 even with some moderate USD strength and ended near lows with crosses dragging the major lower. EUR/JPY tracked towards Y110 the low from the recent Greece crisis. Overall the USD/JPY traded with a low of 77.61 and a high of 78.04 before closing the day around 77.70 in the New York session. UPDATE June CPI at 0.4% y/y.

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