Late Asia pullback from its session......>

DOLLAR-YEN: Late Asia pullback from its session high of Y106.84 found support at

Y106.71 before fresh demand emerged into Europe which has taken rate to an

extended recovery high of Y106.90. Asian traders did note that strong Japanese

demand was encountered in that dip toward Y106.70. Resistance seen at Monday's

high of Y106.97 ahead of Friday's high of Y107.05, though expectations that main

sell interest placed between Y107.00-15, stops likely above Y107.20. Traders

have noted that the Japanese FY end, at end of March, expected to draw some

domestic Jpy demand into mid March, though interesting that Japanese names have

been reported on the bid side since last week. Main directional impetus

currently provided by the Nikkei. Usd/Jpy saw the most action in Asia, again

driven by comment associated with the Moritomo scandal.