Opened in Asia toward the upper side.....>

DOLLAR-YEN: Opened in Asia toward the upper side of the Y111.38 to Y112.15 range

witnessed yesterday, where firmer US rate yields placed the yen on the

defensive. Japan's October Industrial Production data (2350GMT) provides the

event risk for the session, consensus is for a rise of 1.8% m/m. In option

space, close-by strikes rolling off today include; Y111.75($550mn),

Y112.00-05($429mn) and  Y112.15-20($601mn). Initial resistance is seen at

Y112.15 (Nov29 high), a break to expose Y112.33 (38.2% fib retracement

Y114.73-110.84 decline), while support is noted at Y111.65-69 (38.2% fib

Y110.84-Y112.15 and hourly low). Dollar-yen was last at Y111.90.