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.&nbsp 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. &nbsp

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