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The JPY crosses had a couple of..........>

DOLLAR-YEN
DOLLAR-YEN: The JPY crosses had a couple of notable moves overnight, one in
either direction, but lacked any real conviction against a backdrop of low
liquidity owing to the Japanese national holiday.
- USD/JPY last trades 10 pips higher at ~Y112.50.
- This comes after the MNI FX Technical Signal Monitor generated a clean sweep
of bullish technical signals for USD/JPY on Friday.
- Support around the 21- & 200-DMAs provided the base for continued fresh
7-month highs in USD/JPY last week, with initial bullish focus now on the
Y113.24-74 region where the 200-WMA, 2018 & Dec 2017 highs are located.
Overbought daily studies and the Bollinger top (Y112.40) are the key concern for
bulls with the potential to limit follow through. Bears now need a close below
hourly support from July 11 (Y111.86) to ease bullish pressure and below Y111.35
to shift focus lower.
- Later in the week focus will turn to Japanese CPI data, due Friday
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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