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DOLLAR-YEN: Plenty of levels to look out for to the upside in USD/JPY as it
grinds higher heading into the European open: firstly, Y111.89 marks the Nov20
low before Y112.21/26, the 61.8% Y112.79-111.27 and 100-dma respectively.
Finally, Y112.50/55 marks the Jan9 congestion area. The pair corrected higher
overnight as the dollar rallied after semi-official denials of yesterday's
'China sees Treasuries as less attractive' story. This allowed USD/JPY to regain
over 0.5% from the lows but is still some way off yesterday's highs of Y112.79.