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Opened in Asia at the upper side of......>

DOLLAR-YEN: Opened in Asia at the upper side of the Y111.74 to Y112.64 range
witnessed yesterday, where higher US rate yields and stronger US equities kept
the yen on the defensive. Japan's labour report, inflation and capital spending
data provide the event risks for the session ahead. Nikkei is expected to follow
the lead from Wall St and open higher, futures were last up 0.9%. In option
space, nearby expiries for today include; Y111.90(361mn), Y112.00($407mn),
Y112.65-70($943mn) and Y113.00($603mn). Resistance is located at Y112.74-79, the
level holds 55-dma and 50% fib retracement on the Y114.73-Y110.84 decline, while
support lies at Y112.29 (38.2% Y111.74-Y112.64). Dollar-yen was last at Y112.60.

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