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Trade in Asia contained within a.........>

MNI (London)
DOLLAR-YEN: Trade in Asia contained within a relatively tight range of
Y111.06/35 with early Europe extending topside to Y111.37 and keeping pressure
on at writing. Minor resistance seen into Y111.40, a break to expose
Y111.72(hourly high Jan11 and 200-dma), with a decent sized option expiry at
Y111.75($1.38bn) sitting close behind. Strong sell interest said to remain in
place at and above Y111.85 through to Y112.00. Continued talk in Asia of onshore
demand scattered from Y111.00 through to Y110.80. Deutsche Alpha Alert
highlighted that the Usd vs the Jpy has traded on the soft side in the previous
11 releases whether or not the core data surprised either way. 
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

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