JPY Trading Outlook (13-07-2012)

The Japanese Yen (JPY) USD/JPY calmed down after its sharp move towards Y80 and subsequent drop to Y79.25 post BOJ yesterday. The outlook is for more range trading while the US QE debate rages on and the EUR/JPY sellers are in control. AUD/JPY is also under pressure as stock losses mount and we could see some sharp selling if Y80 is broken.

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