JPY traded on a softer footing in early European trade, with European equitys market trading at moderately firmer levels amid hopes that the second U.S. bailout vote will be passed in the next day or two. USDJPY is changing hands around the 106.00 handle, with talk that Japanese exporter interest picked up overnight. The Japanese names are looking to get some of their yearend hedging done above 105.00 and are locking in a 105.00 forward rate to January on spot approaches to 106.50. Currently, forwards around this period come in at approximately 150 pips, which should encourage ongoing selling, with offers layered up to the 107.00 handle, according to sources. The JPY crosses trade on a supportive footing, with EURJPY, GBPJPY, AUDJPY and NZDJPY recovering from Tuesday's lows, although general interest to offload high yield currencies should see sellers on strength. EURJPY currently indicates 149.60 versus 149.03 Asian session lows.