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*Dec27 dollar-yen open Y113.23, range...>

YEN SUMMARY
YEN SUMMARY: *Dec27 dollar-yen open Y113.23, range Y113.17 to Y113.36
*Dollar-yen opened in Asia toward the middle of the narrow Y113.12 to Y113.35
range witnessed yesterday, where consolidation was broadly the theme in holiday
ravaged Christmas markets.
*Easing modestly to Y113.17 in early trade, Tokyo-fix related demand surfaced
pushed the dollar up to Y113.36.
*Once the fix was concluded, the dollar edged lower to Y113.21 ahead of the
opening of European markets
*Large option strikes that roll off today at Y113.00 for US$2.86bn, may prove to
be magnetic as we approach expiry time.
*Resistance is located at Y113.48 (Dec25 high), while yesterday's base at
Y113.12 provides initial support

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