JPY Trading Outlook (16-05-2011)

The Japanese Yen (JPY) the major rallied off day lows caused from the heavy selling on the crosses with the market still attracted to the Y81 level. AUD/JPY and EUR/JPY have hit day month lows with risk off trade supporting the safe haven Yen. Overall the USD/JPY traded with a low of 80.33 and a high of 81.09 before closing the day around 80.80 in the New York session.

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