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Goto-bi day demand at the Tokyo fix......>

DOLLAR-YEN
MNI (London)
DOLLAR-YEN: Goto-bi day demand at the Tokyo fix lifted USD/JPY to a high of
Y113.11 but move said to have met decent resistance at and above Y113.10 which
capped. Rate eased to hold around Y113.00 into Europe. Risk appetite noted,
following an easing in UST yields, but so far having little effect on USD/JPY.
Support remains into Y112.80, a break suggested to pressure weak longs and
expose Y112.50. Below here could prompt further long exits, according to Asian
traders. Resistance remains into Y113.40/50. Traders aware that the Y113.00-05
area holds strikes for expiring options at today's NY cut, $1.26bn.  
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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