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Free AccessContinued risk appetite, driven via......>
DOLLAR-YEN: Continued risk appetite, driven via equities, eventually saw USD/JPY
break through its recent resistance between Y107.90/108.10, the area having
capped the rate 4 times since mid April. Triggered stops through Y108.20
provided the added drive to take rate on to Y108.71 at the Europe close, with
rate retaining a strong buoyant feel at writing. Next resistance seen at
Y108.85(50% Y111.71-105.99), a break to open a move on toward Y109.00/10 ahead
of Y109.28/38 then Y109.52(61.8%). Support Y108.20, Y108.00/107.90. Will be
interesting to see how Tokyo reacts to this outside hours range break.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.