JPY Trading Outlook (14-02-2013)
The Japanese Yen (JPY) USD/JPY rallied off the Y93 level but profit takers capped at Y93.80 and we have seen the major and EUR/JPY fall back ahead of the BOJ today. Some expect the BOJ to pay lip service to global concerns about the recent Yen weakness ahead of the G20 meeting on Saturday. New FED Member George from the US spoke overnight was concerned about the size of the FED balance sheet and this helped 10yr US Bond Yields Rally and further support the USD/JPY this time from the USD side.
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