JPY Trading Outlook (03-12-2012)
The Japanese Yen (JPY) USD/JPY pressed higher in Asian on Friday but we stalled across the whole Yen complex in the US session and pulled back to Y82.40 support. The uptrend is in play and longs are targeting the Y83 resistance. Talk in the market that Japan will embark on aggressive monetary easing to stimulate the economy has been the main cause of Yen weakness of late.
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