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JPY Trading Outlook (24-01-2013)

The Japanese Yen (JPY) USD/JPY and the Yen crosses all dipped overnight but found support before bouncing back to opening levels in a good day for the Bulls hoping that the correction was nearing completion. Caution is still needed however with comments from Global policymakers increasingly becoming more and more protectionist. The 10% weakening in the Yen since the new measures announced by the new PM may inspire other world leaders to announce similar measure in their home countries.

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