JPY Trading Outlook (05-10-2011)

The Japanese Yen (JPY) EUR/JPY tested levels under Y101 in the Asian session on Tuesday keeping most pairs under pressure until the late US session rally. The sharp rally in US stocks sent the EUR/JPY and AUD/JPY soaring into the close up over 150 pips in both pairs. USD/JPY remained very contained in familiar levels between Y76.50 to Y77.

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