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The Mar 16 low of 105.60 has helped contain.....>

YEN
YEN: The Mar 16 low of 105.60 has helped contain JPY strength thus far, with the
pair trading at 105.65 last. EURJPY & AUD JPY have lost 25 & 45 pips
respectively, to last trade at 130.60 & 81.90.
- In USDJPY, hesitation ahead of 106.75-107.29 has continued, with key support
continuing to lie at Y105.22, the YtD low. Daily studies remain largely neutral
but the Bollinger band base at Y105.53 remains a concern for bears having
limited follow through on 2018 lows.
- EURJPY's rejection at the 200-DMA (131.81) & bear channel top off 2018 highs
Tuesday leaves the pair looking heavy with focus back on the 129.07-48 support
region where 55 & 200-WMAs and the 2018 low are situated.
- AUDJPY's Bollinger band base (81.48) is the key concern for bears, while
rallies have remained capped ahead of 82.70.
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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