JPY Trading Outlook (29-01-2013)
The Japanese Yen (JPY) is still the main currency pair in play with the major testing resistance above Y91 before easing back to Y90.50 support. Analysts suggest that the speed of the recent USD/JPY rise will need considerable time to work through overbought levels. Yen crosses are also overbought and had deeper corrections overnight but the general direction will be set by the USD/JPY.
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