JPY Trading Outlook (16-02-2011)
The Japanese Yen (JPY) grinded higher on general USD strength but solid resistance was found near Y83.9. Crosses were mixed with AUD/JPY lower on US stocks but GBP/JPY did well on inflations concerns. The BOJ held at 0.1% as widely expected. Overall the USD/JPY traded with a low of 83.18 and a high of 83.94 before closing the day around 83.80 in the New York session.
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