JPY Trading Outlook (04-12-2012)

The Japanese Yen (JPY) USD/JPY came under profit taking pressure after failing to get above Y82.50 resistance and we have pulled back to Y82 in Asia so far. The US ISM fail combined with overbought Yen crosses to all pull back slowly. Friday’s US Nonfarm Payrolls is always a major USD/JPY mover with its impact on US monetary policy.

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