JPY Trading Outlook (30-06-2011)

The Japanese Yen (JPY) The major broke back below Y81 on USD weakness after the vote but crosses were strong and helped to limit USD/JPY downside. AUD/JPY and EUR/JPY led the risk appetite rally higher and could threaten a new uptrend. Overall the USD/JPY traded with a low of 80.54 and a high of 81.20 before closing the day around 80.60 in the New York session.

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