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JPY has strengthened in early............>

DOLLAR-YEN
DOLLAR-YEN: JPY has strengthened in early Asia-Pacific dealing. The main focus
since NY went home has been on the trade war situation with the latest report
from the Washington Post noting that US President Trump is set to announce steel
and aluminium import tariffs on Canada, Mexico and the EU on Thursday and
suggested that import taxes could take effect as soon as Friday. This has dented
risk appetite and allowed USDJPY to ease to 108.60 last, just off of the 108.54
low.
- Support is noted at the 55-/100-DMA at 108.14 followed by the April 20 high at
107.85. Hourly resistance from May 29 comes in at 109.13 followed by the 21-DMA
at 109.69.
- It is also worth noting the sizable nearby option expiries set to roll roll
off at today's 10AM NY cut: 107.95-00($1.05bn), 108.90-00($1.6bn).
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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