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*Aug8 dollar-yen open Y110.75, range....>

YEN SUMMARY
YEN SUMMARY: *Aug8 dollar-yen open Y110.75, range Y110.57-Y110.81
*Dollar-yen opened in Asia toward the lower side of yesterday's Y110.65 to
Y110.92 range, where consolidation was the theme
*After trading aimlessly within a Y110.70-Y110.81 range, supply surfaced to send
the dollar lower from Y110.77 to Y110.57. The move coincided with Japanese
equities slipping into negative territory.
*For the balance of the session the dollar consolidation in a tight Y110.58-66
range and heading into the European open trades at Y110.63
*Although just pierced support at Y110.59 (38.2% Y109.85-Y111.05) continues to
hold, further supports lies at Y110.45 (50% on the same move), while Asia's
Y110.81 high is initial resistance.
*German and French Trade and Current Account data (Possible Euro-yen flow) is
seen as the initial risk event for the session ahead

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