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The aforementioned JPY bid has extended as......>

YEN
YEN: The aforementioned JPY bid has extended as USD/JPY breaks below the lower
limit of last week's tight range, registering a low of Y111.65 on the move.
Bears continue to target the cloud Tenkan Sen at Y111.54 and 200-DMA at Y111.51.
- EUR/JPY last trades 40 pips or so lower on the day at Y125.64, accelerating
after a break below Y126.00, its own cloud Tenkan Sen and various retracement
levels as well as the 100-DMA. Bears look for an extension through the nearby
50-DMA at Y125.60, before targeting the 55- & 21-DMAs at Y125.52/41.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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