JPY Trading Outlook
The Japanese Yen (JPY) bounced aggressively on strong US jobs and housing data to test Y83 in a widely noticed sigh on strength. Y83.50 has capped the major so far this year and will need to be broken to excite the bulls. Overall the USDJPY traded with a low of 82.04 and a high of 83.15 before closing the day around 82.90 in the New York session.
The Japanese Yen (JPY) was strong against the USD as risk off trading and support broke at Y82.40. Support under Y82 was found however and the major was able to recover slightly into the close. The medium term outlook is still mixed with US economic data provide the biggest movement and direction. Overall the USDJPY traded with a low of 81.83 and a high of 82.71 before closing the day around 82.30 in the New York session.
The Japanese Yen (JPY) was contained to Monday&rsquo s range with the market moving on US Treasury Yield fluctuations predominately. Crosses are reflecting moves in their respective majors so are all moving higher tracking equity markets led by the EUR/JPY. Overall the USDJPY traded with a low of 82.31 and a high of 82.85 before closing the day around 82.60 in the New York session.
The Japanese Yen (JPY) was quiet falling back from Y83 after failing to gain a foothold above the level. Support is found on dips with Yen crosses strong over the last week. Overall the USDJPY traded with a low of 82.34 and a high of 83.03 before closing the day around 82.65 in the New York session.
The Japanese Yen (JPY) USD weakness pushed the major lower but support was found at Y82.40 and the pair rebounded to the familiar Y83 level. AUD/JPY fell on the China news but the EUR/JPY remained strong. Overall the USDJPY traded with a low of 82.41 and a high of 83.07 before closing the day around 82.95 in the New York session.
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