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Monday saw the USD/JPY cross grind away from its Asia-Pac lows, aided by the recovery from worst levels for the major U.S. equity indices as markets continued to assess the trade off in short term economic pain vs. medium term COVID vaccine hope. Local Japanese data won't move the needle for the pair on Tuesday, with focus set to remain on the broader risk backdrop/USD dynamic.
- Spot last deals little changed at Y104.30. Key short-term resistance comes in at the Nov 4 high of Y104.76, while initial support is located at the Nov 18 low of Y103.65.