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Opened in Asia at Y113.18 toward the.....>

DOLLAR-YEN: Opened in Asia at Y113.18 toward the lower side of the Y113.03 to
Y113.84 range witnessed yesterday, where reports that Trump's tax reforms may be
phased-in over a 5 year period placed the dollar on the defensive. Japan's
Industrial Production and unemployment data provide the initial event risk to
the session, which also includes BoJ 's policy announcement sometime in the
afternoon, most pundits do not expect any changes, however, strategists at CBA
say, with Japan's CPI inflation (excluding fresh food and energy) at only 0.2%pa
in October, the BoJ may push-out the timing of when they expect inflation to
reach its 2% threshold from currently fiscal year 2019. This will weigh on Yen.
Support is located at Y113.05 (50% Y111.65-Y114.45), a clean break to expose
Y112.72 (61.8% on the same move), while hourly trend line resistance is located
at Y113.44.

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