The dollar opened in Asia at Y109.71.....>

DOLLAR-YEN: The dollar opened in Asia at Y109.71 toward the upper side of

Tuesday's Y108.34 to Y109.90 range, where upbeat US consumer confidence data

prompted further short-covering from the risk-off trade seen in Asia following

the N. Korean missile launch. Japanese Retail Sales for July provides the event

risk for the session ahead, economists are looking for a rise of 0.3%, up from

0.2% in June. Traders expect demand into today's Tokyo-fix (Goto-bi Day), they

also note, a bullish key-day reversal has formed on the charts. Support is

located at Y109.28 (38.2% fib Y108.34-Y109.90), while hourly resistance is found

at Y109.90. Dollar-yen was last at Y109.58 and the range so far this morning has

been Y109.55-Y109.73.