JPY Trading Outlook (05-01-2012)

The Japanese Yen (JPY) USD/JPY moved in a 20 pip range unable to take advantage of the USD strength with heavy EUR/JPY selling keeping the major capped. Most other Yen crosses were only down a little bit as US stocks finished positive. PM Noda talked in Japan that it will be coordinating with the BOJ to fight deflation fears going forward.

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