JPY Trading Outlook (03-10-2011)

The Japanese Yen (JPY) The USD/JPY moved higher on USD strength breaking above Y77 and closing above the figure for small losses against the other safe haven in the market. Risk currencies slumped though with EUR/JPY falling back to Y103 and target Y100 as the downtrend continues. UPDATE Q3 Tankan Manufacturing Index at 2 vs. -9 previously.

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