JPY Trading Outlook (05-03-2012)

The Japanese Yen (JPY) USD/JPY continued to trend higher taking advantage of the USD strength to push to fresh year highs above Y81.50. The Crosses are more mixed with the majors in most pairs failing to counter the USD/JPY move higher. EUR/JPY is pivoting the Y108 level lately but strong support has been seen towards Y107.60 and a break would have to be seen to upset the bullish outlook.

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