*Oct25 dollar-yen open Y113.74, range...>

YEN SUMMARY: *Oct25 dollar-yen open Y113.74, range Y113.37 to Y113.76

*Dollar-yen opened in Asia toward the lower side of the Y113.48 to Y114.24 range

witnessed yesterday, where softer US earnings reports and Republican

in-fighting, threatening the prospects for tax reform, pressured the dollar

slightly lower.

*Early trade saw the pair trade sideways within a tight Y113.65-76 range

*Tokyo names then pushed the dollar lower to Y113.54

*Recoveries were held to Y113.71, softer US rate yields then encouraged further

selling, the dollar eased to Y113.37 before meeting demand

*For the balance of the session the dollar consolidated 5 to 6 pips either side

of Y113.50

*Close-by notable option expiries today include; Y113.00-05($1.86bn),

Y113.50(646mn), Y113.60-61($1.09bn) and Y113.95-114.00($887mn)

*Decent support is located at Y113.25, the level marks Oct23-24 lows & 38.2% fib

retracement Y111.65-Y114.24 rise, while Asia's high of Y113.76 provides

resistance.