JPY Trading Outlook (01-02-2012)

The Japanese Yen (JPY) The USD/JPY continued to slip lower falling to low Y76 on USD weakness and then some mild EUR/JPY selling which broke below Y100. The technical outlook continues to provide bearish signals for the major and unless US interest rate expectations or data improves considerable it is hard to get sustained rallies. The next biggest form of support is the risk of intervention near Y75.

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