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The major Chinese indices turned bid.....>

DOLLAR-YEN
DOLLAR-YEN: The major Chinese indices turned bid into the lunch break,
generating some modest risk on flows elsewhere. USD/JPY has registered a high of
Y112.65 as a result, Y111.60 last.
- This comes after the rate recouped ~50 pips from yesterday's session low, as
the rebound in U.S. equities pushed the major JPY crosses away from worst levels
on Tuesday.
- Bulls look to the 21-DMA (Y112.93), while Bears need a close below trendline
support (Y111.95), which held Tuesday, to open up a challenge of the 100-DMA
(Y111.50).
- The Japanese docket is thin this week, with focus on Friday's Rinban
operations & broader risk flows providing the focal points.
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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