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JPY experienced some appreciation in.....>

DOLLAR-YEN
DOLLAR-YEN: JPY experienced some appreciation in early Tokyo dealing on the back
of a stronger than expected Q2, F GDP reading out of Japan.
- The release was driven by solid consumption and business investment, with
stronger than exp. CapEx pushing the final print higher.
- USD/JPY made a low of Y110.88 on the move, and last deals at ~Y111.00.
- Bulls initially need to break back above the 50-DMA and September 06 (Y111.76)
to regain the upper hand, before focusing on the July 19 high (Y113.17). Bears
continue to target the 100-DMA (Y110.53).
- BOJ Rinban operations dominate the Japanese docket this week.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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