JPY Trading Outlook (01-06-2012)

The Japanese Yen (JPY) the USD/JPY slipped overnight on heavy cross selling and a lack of intervention from the BOJ/MOF in the Asian session. There was some normal verbal intervention but that was not enough for the low Y78 levels to be tested in the US session. Tonight’s US Jobs data is the most important monthly event in terms of USD/JPY movement.

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