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*Oct16 open Y111.90, range Y111.71 to...>

YEN SUMMARY
YEN SUMMARY: *Oct16 open Y111.90, range Y111.71 to Y112.08
*Dollar-yen opened in Asia toward the lower side of Friday's Y111.69 to Y112.31
range, where weaker US inflation data and softer UST yields placed the dollar on
the defensive.
*Demand under Y111.80 from Japanese accounts pushed the dollar back through Y112
handle to Y112.08. Higher US rate yields and firmer regional equities supported
the move.
*For the balance of the session consolidation became the theme, the pair held a
Y111.92-Y112.07 range
*Below Friday's Y111.69 low support lies at Y111.48 (Sept 26-25 lows), while
resistance lies at Y112.33-36 (Oct13 high, 38.2% fib Y113.44-Y111.69).
*Option expiries for today include; Y112.00($600mn), Y112.50($1.6bn) and
Y112.99-Y113.00($542mn)

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