The Japanese yen saw a very bearish trading session yesterday, losing ground against all of its currency crosses. The JPY did gain mildly against the USD, however, closing around 83.50. The yen lost almost 100 points versus the EUR, closing at 113.60; and just about 30 points versus the CHF, ending the day at 1.3020.

The JPY's trends will be affected by the rallies of its primary currency pairs today. It seems that the USD and EUR are expected to continue trading volatile today, especially against the Japanese currency.

Traders should keep a close look on the news coming from the U.S. and Canada as these economies will be the deciding factors in the JPY's movement today. It is also advisable for traders to follow any unexpected comments coming from key Japanese governmental figures, as this is also likely to lead to further JPY volatility.