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JPY Trading Outlook (26-06-2012)

The Japanese Yen (JPY) the USD/JPY was a big mover on the day falling from above Y80 to below Y79.50 as sentiment changed dramatically on Monday from last week. There are concerns that the EU summit will fail and that Japan itself will be having political risks with a major tax bill to be voted on this week. The rejection of the Y80 level is very concerning for the bulls and the price action this week will be watch closely by medium term traders.

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