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Currently sits at Y112.93 in the.........>

DOLLAR-YEN: Currently sits at Y112.93 in the middle of the Y112.84 to Y113.01
range seen so far this morning. Momentum accounts have been the reported buyers,
fix-related demand also helping to underpin. Overall, with equities not doing
too much, further range-trading is expected. Nearby option strikes due to roll
off later today include, Y112.40-50($423mn), Y112.60($650mn), Y113.00($612mn)
and  Y113.25-30($890mn), which may act to contain the short-term range. Fresh
supply is cited between Y113.00-10, which fits in nicely with the technical
picture, Y113.09 marks the 61.8% fib retracement on Y113.75-Y112.03 decline,
while yesterday's Y112.51 base provides support. 

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