JPY Trading Outlook (17-10-2012)

The Japanese Yen (JPY) EUR/JPY was the strongest currency in the market trading above Y103 and well supported from both the EUR/USD and USD/JPY moves. The outlook is mixed for the USD/JPY with heavy resistance above Y79 to Y80 likely capping the topside and range trading continuing. US data has been improving of late and this is underpinning the major’s move higher.

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