JPY Trading Outlook (22-05-2012)
The Japanese Yen (JPY) was restricted to a tight trading range, with interest and buying appetite seen near the key 79.00 level, yet capping pressure toward 79.50. The flow in to EURJPY seemed to over shadow as the cross currency was able to sustain a broader rally, whilst the AUDJPY sustained it’s resurgence, trading higher toward 78.75, with focus shifting to the key 80.00 barrier, following a failure on several occasions to break below Fridays 77.50 floor.
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