Opened in Asia at Y113.87 toward the.....>

DOLLAR-YEN: Opened in Asia at Y113.87 toward the upper side of the Y113.40 to

Y114.03 range witnessed yesterday, where consolidation was largely the theme.

Japan's Machinery Orders and Current Account and Trade Balance provide the main

event risks, strategists at CBA expect their current account surplus to remain

high at  around Y2,000 billion or about 4% of GDP, they say, a large c/a surplus

is JPY supportive. In option space, close-by expiries for today include;

Y113.10($590mn), Y113.50-60($812mn), Y114.00($540mn) and Y114.50($571mn).

Support is being found close to the 21-dma, currently at Y113.37, while initial

hourly resistance lies at Y113.93, a break to expose Y114.07(50% fib

Y114.73-Y113.40).