*Oct12 Dollar-yen open Y112.50, range...>

YEN SUMMARY: *Oct12 Dollar-yen open Y112.50, range Y112.32 to Y112.52

*Dollar-yen opened in Asia toward the upper side of yesterday's Y112.08 to

Y112.59 range witnessed yesterday, where strong demand in Euro-yen offset modest

US dollar weakness, leaving the pair largely unchanged on the day.

*Dollar-yen came under mild pressure in early trade, Asian investors had deemed

the latest Fed Minutes as more dovish than expected. Dollar-yen dropped from

Y112.52 to Y112.32. Ongoing demand in Aussie-yen from Japanese investors negated

dollar weakness.

*The pair then consolidated between Y112.33 and Y112.43 for the balance of the

session, with large option expiries for today seen containing

*Notable options expiries for today include; Y112.00($1.79bn), Y112.40{$1.12bn),

Y112.50($990mn), Y112.60($650mn) and Y113.00-05($2.68bn)

*Support is being found near to the 21-dma, currently at Y112.21, while

resistance is located at Y112.72 (50% Y113.44-Y111.99 decline).