JPY Trading Outlook (28-04-2011)
The Japanese Yen (JPY) the major was well support in Europe on heavy cross buying with GBP/JPY leading the market higher. USD weakness in the US session reversed the pair back to Y82. Overall the USD/JPY traded with a low of 81.33 and a high of 82.83 before closing the day around 82.10 in the New York session. Looking ahead, BOJ Rate Announcement forecast at 0.1%.
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