JPY Trading Outlook (17-09-2012)

The Japanese Yen (JPY) More talk of BOJ rate checks on Friday as the USD/JPY slumped to new cycle lows just above Y77 and then a bounce to above Y78. The outlook is for further USD weakness but the major has always been a slow grinder and we are unlikely to see dramatic moves lower. The last intervention point was at Y75.50.

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