JPY Trading Outlook (11-01-2013)
The Japanese Yen (JPY) USD/JPY soared overnight with breaking to fresh highs above Y88.50 and we are testing resistance above Y89 in Asia Friday. The biggest mover was the EUR/JPY which combined the USD/JPY and EUR/USD moves to surge over 300pips on the day closing above Y118. The market is awaiting news of a new government stimulus package and BOJ inflation targets.
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