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The cross opened in Asia toward the........>
EURO-YEN: The cross opened in Asia toward the upper side of yesterday's Y134.94
to Y135.63 range, where solid EU manufacturing PMI's helped to underpin the
single currency before reports that North Korea might be preparing for another
missile test hit risk, leaving the pair broadly unchanged on the session.
Japanese participants are again absent due to a bank holiday, trading to
expected to be subdued, but the cross may get a lift from regional equities
following a strong performance on Wall St. Resistance is seen at Y135.82/84
(1.618% swing of Y134.38-Y132.05, weekly Bollinger band top), while yesterday's
base at Y134.94 provides initial support. Euro-yen was last at Y135.36.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.