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JPY Trading Outlook (14-05-2012)

The Japanese Yen (JPY) is finding constant support from the issues threatening global markets and is competing with the USD as the safe haven of choice. The USD/JPY itself is still contained in a tight range under Y80 and is waiting for BOJ intervention talk/measure or fresh US data to pick a new direction. The crosses are in a different story with all falling to new lows on Friday and testing support as risk trades continue to be sold.

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