JPY Trading Outlook
The Japanese Yen (JPY) pushed above Y83 in another solid move for the major with an uptrend possible if more technical levels can be broken today with the US NFP data. Crosses continued higher with EUR/JPY extending week gains above Y118. Overall the USD/JPY traded with a low of 82.55 and a high of 83.36 before closing the day around 83.25 in the New York session. UPDATE Q1 Tankan at 6 vs. 5 previously.
The Japanese Yen (JPY) remained strong supported by the strong ADP Employment report at 201k vs. 208k previously. Crosses enjoyed solid gains with AUD/JPY year highs above Y85 and EUR/JPY now above Y117 in very one sided moves. Overall the USD/JPY traded with a low of 82.40 and a high of 83.23 before closing the day around 83.10 in the New York session.
The Japanese Yen (JPY) was strong pushing to pre earthquake levels above Y82 on the hawkish comments from a Fed member that they may close the QE2 program early. AUD/JPY moved above Y84 and EUR/JPY above Y116. The Yen is under pressure technically with many pairs breaking higher altogether. Overall the USD/JPY traded with a low of 81.49 and a high of 82.55 before closing the day around 82.45 in the New York session.
The Japanese Yen (JPY) the market grinded higher on support for risk and strong crosses. EUR/JPY pushed back above Y115. USD/JPY resistance was found at Y81.80 before stabilizing. GBP/JPY has been underperforming in recent session as Cable falls back but is holding above Y130. Overall the USD/JPY traded with a low of 81.49 and a high of 81.87 before closing the day around 81.70 in the New York session.
The Japanese Yen (JPY) USD/JPY started to rally on Friday as the USD moved higher on the FED speak from Plosser. EUR/JPY and GBP/JPY held up well even as the majors fell and could be set for moves higher over the medium term as they edge closer to raising rates themselves. Overall the USD/JPY traded with a low of 80.87 and a high of 81.49 before closing the day around 81.40 in the New York session.
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