JPY Trading Outlook
The Japanese Yen (JPY) USD/JPY rallied gentle on the back of the dollar strength but EUR/JPY slumped with major. The next move is largely depends on whether stocks markets and Yen crosses can rally from the recent pull back. Overall the USD/JPY traded with a low of 79.82 and a high of 80.48 before closing the day around 90.30 in the New York session. UPDATE Chinese Trade Balance at 13.1bn vs. 11.4bn previously.
The Japanese Yen (JPY) A break below Y80 on the major helped all crosses fall heavily with EUR/JPY and AUD/JPY leading. The Yen is been the safe have of choice since the USD is under its own debt cloud.   Overall the USD/JPY traded with a low of 79.68 and a high of 80.22 before closing the day around 79.90 in the New York session.
The Japanese Yen (JPY) the USD/JPY tested Y80 a few times in Europe but the level held firm before a small bounce towards opening levels. EUR/JPY selling added pressure but could also save the major with the uptrend providing support for USD/JPY. Overall the USD/JPY traded with a low of 79.96 and a high of 80.41 before closing the day around 80.20 in the New York session.
The Japanese Yen (JPY) the USD/JPY tested Y80 a few times in Europe but the level held firm before a small bounce towards opening levels. EUR/JPY selling added pressure but could also save the major with the uptrend providing support for USD/JPY. Overall the USD/JPY traded with a low of 79.96 and a high of 80.41 before closing the day around 80.20 in the New York session.
The Japanese Yen (JPY) USD/JPY fell sharply towards Y80 after the weak US data but the crosses began to rally with stocks bouncing and EUR/JPY surging higher. USD/JPY is close to Y80 and a break here could lead quickly to further losses. The market will be closely watching any talk of BOJ intervention below this level. Overall the USD/JPY traded with a low of 80.03 and a high of 81.01 before closing the day around 80.23 in the New York session.
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