JPY Trading Outlook (07-02-2012)

The Japanese Yen (JPY) the USD/JPY failed to extend gains and fell back as the USD came under pressure in the US session. The Y76.50 is the support and holding firm so far as the market looks to more US data and the EUR/JPY to see if Yen weakness can continue this week. The MOF confirmed more stealth intervention in the past 3 months but only through the USD/JPY.

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