JPY Trading Outlook (07-01-2011)
The Japanese Yen (JPY) was extremely contained holding above Y83 but not pushing higher as the market waits for tonight& rsquo s critical NFP data. Continued USD strength and improving data could prompt a trend change with many players short for the previous year. Overall the USDJPY traded with a low of 82.86 and a high of 83.41 before closing the day around 83.10 in the New York session.
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