*Aug24 Dollar-yen open Y109.04, range...>

YEN SUMMARY: *Aug24 Dollar-yen open Y109.04, range Y108.85 to Y109.25

*Dollar-yen opened in Asia toward the lower side of yesterday's Y108.82 to

Y109.83 range, where risk-aversion following Trump's comments pressured the yen

higher.

*Risk-off theme continued in early Asia pushing the dollar down from around

Y109.00 to a base of Y108.85, with a Japanese Trust name a noted seller.

*Tokyo-fix related demand and a 'decent' buyer of Euro-yen then saw the dollar

climb higher from near Y108.90 to Y109.20

*Dips were shallow and limited to Y109.12, another round of buying pushed the

dollar to a fresh top of Y109.25, with firmer US rate yields said to have

encouraged the move

*For the balance of the session the dollar consolidated around Y109.20

*Resistance is located at Y109.22/34 (38.2%/50% fib Y109.83-Y108.85), while

Asia's Y108.85 provides initial support