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*Jul27 Dollar-yen open Y111.18, range...>

YEN SUMMARY
YEN SUMMARY: *Jul27 Dollar-yen open Y111.18, range Y110.78 to Y111.23
*Dollar-yen opened in Asia toward the lower side of yesterday's Y111.06 to
Y112.20 range, where dollar weakness was the theme post-FOMC
*Dollar-yen held a narrow Y111.06 to Y111.23 range ahead of the Tokyo open
*The arrival of Tokyo players sent the dollar down from around Y111.20 to
Y110.90. Demand into today's Tokyo fix saw a brief recovery to Y111.03
*Sellers returned post-fix, encouraged by softer US rate yields the dollar
drifted lower from Y111.00 to Y110.78
*For the balance of the session consolidation took hold, the dollar not moving
too far from Y110.90
*Support is located at Y110.62 (Jul24 low), with demand expected around Y110.50,
while resistance is noted at Y111.25 (Daily cloud top)

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