JPY Trading Outlook (07-01-2013)

The Japanese Yen (JPY) USD/JPY topped out at Y88.40 before falling sharply at the Nonfarm Payrolls number which disappointed a much higher rumor number. The fall proved short-lived with support at Y87.60 lifting the pair back above Y88 into the close. The recent rally is overbought but the trend is strong and still in play.

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