JPY Trading Outlook (06-05-2011)
The Japanese Yen (JPY) risk aversion and weak US data made the Yen the safe haven of choice with traders pushing the major through Y80 briefly before buyers emerged.  Bargain hunters on the Crosses especially the AUD/JPY came out after the most pairs have fallen significantly in last 4 days. Overall the USD/JPY traded with a low of 79.57 and a high of 80.50 before closing the day around 80.30 in the New York session.  
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