JPY Trading Outlook (06-07-2011)

The Japanese Yen (JPY) was very contained consolidating above the Y81 level in a 20 pip range. EUR/JPY and AUD/JPY came under pressure with risk off trade in the US session but GBP/JPY enjoyed gains above the Y130 level on strong UK data. Overall the USD/JPY traded with a low of 80.77 and a high of 81.20 before closing the day around 81.05 in the New York session.

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