JPY Trading Outlook (13-12-2011)

The Japanese Yen (JPY) the USD/JPY moved higher as the USD outpaced the strength of the Yen but the moves were very mild as the major edged up to test Y78. EUR/JPY tested new lows under Y103 and could test the major Y100 level in coming days if the situation in Europe is allowed to fester. Most crosses fell on risk aversion.

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