JPY Trading Outlook (05-07-2011)

The Japanese Yen (JPY) stayed inside a tight band near the upper end of its recent Y80-81 range. EUR/JPY saw some action when the S&amp P news broke but most crosses are on a strong footing and being bought on the dip. Overall the USD/JPY traded with a low of 80.52 and a high of 80.88 before closing the day around 80.75 in the New York session.

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