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The JPY crosses are coming under pressure.......>

YEN
YEN: The JPY crosses are coming under pressure after the BOJ failed to offer a
fixed rate operation to buy an unlimited amount of 10-Year JGBs earlier today
(with early chatter pointing to such an offer), JGB yields briefly traded above
0.11%, the typical fixed rate the BOJ offers on such operations.
- USD/JPY last ~Y111.00, support noted at the 55-DMA (Y110.55).
- USD/JPY last ~Y129.26, right on the 55-DMA, with further support noted at
Y128.76, representing previous resistance.
- AUD/JPY last ~Y81.94, support noted at the July 24 low (Y81.81) followed by
the July 06 low (Y81.59).
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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