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Rising support off the May7 low came.....>

DOLLAR-YEN
MNI (London)
DOLLAR-YEN: Rising support off the May7 low came in this morning at Y107.44 and
was said to have strengthened support interest which helped to base USD/JPY at
the Y107.50 level in early Asia. Support here allowed rate to extend its
recovery off Wednesday lows of Y107.34, pushing up before finding decent
resistance at the Y107.85 level, which capped through the day despite several
challenges. Rate currently seen settled between Y107.60/70.
- Friday focus turns to Japanese inflation data and the unscheduled policy
meeting from the Bank of Japan. The BoJ are seen keeping policy unchanged but
providing more information on funding for business.
- Support remains into Y107.50 ahead of Y107.36. Resistance Y107.85, stronger
between Y108.00/10.  
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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