JPY Trading Outlook (16-08-2012)
The Japanese Yen (JPY) is getting a lot of attention as the sleeping major of the FX market wakes up and begins to move. USD/JPY is grinding higher as the USD strength gives traders a reason to buy the major. The market has been very quiet for months and still structurally short so a large rally is on the cards if we can break above Y80 in the coming sessions. The Yen crosses are all severely deflated in historic terms and could also easily enjoy a move higher of 5-10 big figures if a new trend emerges.
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