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As ever JPY has been unreactive to domestic.....>

YEN
YEN: As ever JPY has been unreactive to domestic data, with the strong GDP print
being ignored by JPY traders.
- USDJPY is capped by 106.26 the Mar 6 hourly recovery high, with notable
support at the lower 1% volatility band of Y105.36 & last Friday's Y105.25 low.
If that goes it opens up a test of 105.00 with a lack of technical support seen
until Y104.50-Y104.30.
- In terms of FX options expiries for the 10 AM NY cut on Thursday, the most
notable in play is the $1.06bln worth of 106.00 expiries.
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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