JPY Trading Outlook (21-02-2012)
The Japanese Yen (JPY) opened on the back foot with the safe haven sold across the board and USD/JPY hitting post intervention highs near Y80. The recent rally has caught many by surprise as the usually quiet pair reversing most analysts expectations and is beginning to form an uptrend. A break of Y80 would confirm this and may cause more traders to come back to 2nd largest pair in the market.
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