JPY Trading Outlook (08-12-2011)
The Japanese Yen (JPY) USD/JPY has been sidelined with a slight downside bias but still in a 20 pip range overnight. The market is focused on EUR/JPY for headlines form Europe and AUD/JPY for tracking the stock market movements. The outlook for USD/JPY will depend on next week’s FOMC meeting in which we are expected to see more details on the US monetary policy outlook.
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