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Broader risk-off mood, inspired by.......>

DOLLAR-YEN: Broader risk-off mood, inspired by U.S. President Trump's remark
that "China broke the deal" and "will be paying for this," dragged USD/JPY below
Y110.00 and allowed the yen to outperform its G10 peers. The Nikkei 225
registered losses alongside most the region's other major equity indices, as
investors turned away from risk assets.
- USD/JPY last trades at Y109.96, 14 pips lower on the day. A return above
Y110.00 would open up the lower Bollinger band (2%), located a further 10 pips
above. This is followed by an option-related resistance at Y110.50-60.
Meanwhile, bears look for a further dip through the lower 1.0% 10-DMA envelope
at Y109.86 before attempting a move at the Mar 25 low of Y109.71. Below here
would suggest that a large double top formation is in play.
- Worth noting Japanese consumer confidence index printed at 40.4 vs. the prior
40.5 and exp. of 40.3.
- The BoJ will release the Summary of Opinions from its latest MonPol meeting

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