JPY Trading Outlook (24-09-2012)
The Japanese Yen (JPY) the USD/JPY is finding support at Y78 and is bouncing along waiting for a further catalyst. The weak USD from the QE3 news is pressuring the downside but jawboning from the Japanese Authorities is growing louder and the BOJ itself has loosened monetary policy. The race to have the weakest currency to spur exports is being played by all the large economies including China, Japan and the US.
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