JPY Trading Outlook (25-10-2012)
The Japanese Yen (JPY) USD/JPY pulled back from Y80 but only 30 pips to Y79.70 with buyers still hoping to break above the big figure. Large orders are reported at the level with traders stops are above. Yen crosses are supporting and there has been a change in mood towards the Yen in the last week with the Japanese currency becoming the funding currency of choice.
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