Extends further its corrective...........>

DOLLAR-YEN: Extends further its corrective pullback from its US NFP react high

of Y109.85, the move lower accelerating through Monday's NY session to a low of

Y108.24. Rate recovered to an early high of Y108.54 in Asia before it again

turned lower into the Tokyo fix, the move breaking below Monday's low before

moving into the broken resistance area between Y107.90/108.09. Rate met support

at Y107.92(50% Y105.99-109.85), though rate retains a heavy feel into early

Europe. A break lower expected to meet support around Y107.74(76.4%

Y107.09-109.85) ahead of Y107.50. Position adjustment, profit take sales along

with option related selling were linked to the move lower Monday, with the

overnight news of N.Korea cutting communication lines to S.Korea denting the

recent positive risk outlook, though equity markets continue to look perky.