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USD/JPY Dips Ahead Of 4pm Meeting


Pullback Still Considered Corrective


Support Stays Intact


Timeline of key events (Times BST)


Mixed Trends


Bear Channel Top Remains Intact

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US TSYS: Treasuries see some profit-taking on the overnight safe-haven bid rally
on N.Korea worries, and also saw selling on higher than expected upwardly
revised 5.4% 2Q unit labor costs (vs. pvs. 2.2% reported). Some also start to
set shorts into the 1pm ET US$23B 10Y note auction today.

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