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DOLLAR-YEN
DOLLAR-YEN: Broader USD strength has pushed USD/JPY back into positive territory
over the last hour or so, with the rate registering a high of Y108.99 as a
result. Pair last trades 21 pips higher at Y108.93.
- Bulls will be encouraged by the move above yesterday's peak of Y108.78 &
Y108.92, which represents the Jan 3 high & the 61.8% fibo retracement of the
move from Y111.41 to Y104.87. They now target a move above Y109.00, which would
open up the Jan 2 high at Y109.73.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com