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DOLLAR-YEN

JPY extends gains and through initial support in USDJPY at 104.53.

  • Also testing high against AUD, and EURJPY now turns offered.
  • Very little in terms of correlation, and more likely some JPY short covering, or hedging ahead of the Trump/Suga phone call on Sunday.
  • Looking at FX Options expiry, not really much of note:
  • 104.50 (585mln), 104.25 (230mln) and 104.00 (500mln)
  • Next MNI tech support area is seen further out at 104.19 Low Jul 31 and a major support

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