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A positive start for the Nikkei 225......>

DOLLAR-YEN
DOLLAR-YEN: A positive start for the Nikkei 225 (which has added over 1.0%), has
allowed USD/JPY to regain Y112.00, printing a high of Y112.05.
- Up trendline support from the March lows was breached Friday as USD/JPY traded
below its 100-DMA at one point, with risk off flows supporting JPY, before U.S.
stocks recovered from worst levels, allowing the rate to recover in tandem.
- Bulls eye a move back above trendline support (Y112.09), before they look to
the 21-DMA (Y112.75). Bears need a clean break and close back below the 100-DMA
(Y111.59).
- Focus this week turns to the BOJ's latest MonPol decision, with industrial
production and labour market data also due, in addition to Rinban operations.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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