JPY Trading Outlook (04-08-2011)

The Japanese Yen (JPY) the major surged in the Asian session Thursday as the MOF confirmed intervention and the BOJ ended it&rsquo s rate meeting one day early. EUR/JPY and AUD/JPY surged with the USD/JPY which itself moved from Y77 to Y79. Overall the USD/JPY traded with a low of 76.76 and a high of 77.39 before closing the day around 79.10 in the New York session.

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