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Sojourns above Y110.00 continue to be....>

DOLLAR-YEN
MNI (London)
DOLLAR-YEN: Sojourns above Y110.00 continue to be brief with rate today managing
a high of Y110.09 before it too eased back, finding a low in early NY of
Y109.61. Rate eventually managed to step its way to a NY recovery high of
Y109.87 but was last trading around Y109.80 ahead of the close. Interesting to
note that the rate opened the day at the 50-dma of 96.38 and remained above.
This should keep recent high of 96.676(Jan24) in view, which in turn should aid
USD/JPY for another attempt on Y110.00 and a build above. Resistance seen at
Y110..09/16, a break to expose Y110.35-50. Support Y109.55/40. Option expiries
Friday's NY cut seen at Y109.00 ($1.74bn), Y110.00($583mln). 
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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