JPY Trading Outlook (12-03-2012)

The Japanese Yen (JPY) had the cleanest reaction to the US jobs data on Friday breaking above Y82 and rallying to Y82.50 after the better than forecast increase of 227k jobs in February and then the positive 60k revision of the previous 2 months leading to strong USD buying. Support is seen on dips and widely expected to continue higher ahead of the FOMC meeting this week.

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