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JPY underperforming on the back of the...>

DOLLAR-YEN
DOLLAR-YEN: JPY underperforming on the back of the previously highlighted SCMP
story. USD/JPY testing Y108.00 at writing after registering a high of Y108.03 on
the move. Source highlighted Japanese names paying from Y107.95.
- Pair has cleanly broken above the low from Jun 5/recent bear trigger/200-hma.
A clean break of the figure would allow bulls to target trendline resistance
drawn off the Apr 24 high, which comes in at Y108.33.
- Worth flagging that there is some $1.07bn worth of USD/JPY options with a
strike of Y108.00 rolling off at today's 10AM NY cut.
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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