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Enjoyed a fairly buoyant tone through....>

DOLLAR-YEN
MNI (London)
DOLLAR-YEN: Enjoyed a fairly buoyant tone through the day but the move down in
EUR/JPY provided the counter to prevent any major advance back above Y112.00.
Rate did manage to touch Y112.01 earlier in Asia with trade through Europe
contained within a range of Y111.82-98. NY saw a high of Y111.99 before rate
slipped down to Y111.64 through the 1600GMT fix but had edged back above Y111.70
after the European close. Resistance seen from Y112.00 through to Friday's(Mar01
high) high of Y112.08. A move above this latter level could bring pressure to
bear on weaker shorts though stronger resistance is expected into Y112.20.
Support remains at Y111.64 (earlier low and hourly low in NY Mar01) a break to
open a deeper move toward Y111.35/30. Large option interest lies at Y112.00,
with $6.33bln rolling off at that mark in the coming two weeks.  
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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