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Starts New Week On Softer Footing

JPY

USD/JPY blipped higher in early Asia-Pac trade and last sits +5 pips at Y109.71, with very little to write home on broader headline flow so far. The yen lags all of its G10 peers at the margin, with USD/JPY still within the confines of Friday's range.

  • Bulls look for a clearance of Jun 4 high of Y110.33, before targeting Apr 6 high of Y110.55. On the flip side, a fall through Jun 7 low/50-DMA at Y109.19/11 would bring May 25 low of Y108.56 into play.
  • G7 leaders threw their weight behind PM Suga's domestically unpopular plan to host the Tokyo Olympics next month.
  • Final industrial output will be released out of Japan today. Trade balance & core machine orders are due Wednesday, with national CPI coming up Friday. Also on Friday, the BoJ will deliver their latest MonPol decision.

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