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Early NY greeted the news of the.........>

MNI (London)
DOLLAR-YEN: Early NY greeted the news of the announced unscheduled BOJ meeting
for Friday with a fresh round of JPY selling, the pressure enough to spike
USD/JPY through resistance at Y107.50, the momentum able to clear next level of
resistance at Y107.70 before rate faltered above Y108.00, topping out at
Y108.09. Traders note that USD/JPY has faltered in the Y108.00-10 area 4 times
since mid April. Corrective pullbacks initially met support at Y107.80, recovery
efforts then capped at Y108.00 before rate drifted off to Y107.76.  Support now
seen into Y107.70, stronger at Y107.50. Resistance remains between Y108.00-10. 
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

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