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- Thursday's break below Y103.00 saw USD/JPY pressed to an extended low of Y102.88 but bounced to Y103.18 through the 1600GMT fix.
- Rate settled around Y103.10 through to the close.
- USD/JPY edged higher into the BOJ, broader policy settings unchanged, tweaked corporate liquidity provisions. Move higher accelerated in Tokyo to Y103.49 before it faltered into Y103.50(broken support level).
- Rate eased off to Y103.31 into Europe, currently around Y103.35.
- Support seen back at Y103.05/00 ahead of Y102.88. Resistance now seen at Y103.50/60.
- MNI Techs: USDJPY traded lower Thursday and cleared support at 103.18. Nov 6 low. This confirms a resumption of the underlying downtrend that started late March. The next objective is set at 102.75, the 1.00 projection of the Oct 7 - Nov 6 down leg from the Nov 11 high. Further out the break lower opens 102.00 and below. Nov 6 low. On the upside, initial resistance is at Thursday's high of 103.56. Upticks are considered corrective.