JPY Trading Outlook (11-04-2014)
USD/JPY: Both USD/JPY and Nikkei futures broke below their up TLs off the ’14 lows o/n. The Nikkei then fell through its March lows. Japanese importers are heavy bidders at 101.20, March low and into 101 and 100.80, though the 200-DMA is at 100.81 and the up trendline from last June was 100.90.
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