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Round Trip Complete

DOLLAR-YEN

The pair's round trip looks to be complete ahead of the US cash equity open as the pair prints new highs up at Y105.45, accelerating the move higher as the 100-hma and Jul 30 high are broken.

Throughout Asia-Pac hours, JPY was firmer across the board, pressuring USD/JPY to lows of Y104.19 before finding decent support ahead of the Mar 11 low of Y104.10 as sentiment seemed to catch up with the persistent strength of US equity futures.

Upside targets in the pair are now seen at the Jul28 high of Y105.69 and the Cloud Tenkan Sen level at Y105.78.

Move brings the pair into close proximity of a $1.2bln Y106.00 strike due to roll-off at today's cut.

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