JPY Daily News

Yen Takes Losses Against USD

Following a fairly bearish week for USD/JPY, it appears that the Yen has steadily reversed courses against the greenback. Beginning yesterday afternoon, the pair shot up almost 90 pips to reach its current level of 89.22. The Yen has faired better against the Euro as of late with the EUR/JPY falling over 70 pips in trading yesterday. The pair has bounced back slightly, and is currently trading at the 121.28 level.

Today, Yen levels will likely be determined by the result of the U.S. Non-Farm Payroll Report. If the figure comes in as forecasted, the Dollar will likely make gains on JPY. That being said, if this does occur, both the Euro and Pound will likely drop. The Yen should be able to capitalize on the fall of its European rivals.

Current Time: 05/27 05:34 GMT

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