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USD/JPY added 9 pips overnight and.......>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY added 9 pips overnight and last sits at Y111.42, as reviving
risk appetite applied pressure to the yen.
- The rate ebbed to session lows of Y111.21 initially, but bounced pre-Tokyo fix
on the back of strong Australian trade balance and retail sales prints, followed
by an FT source story suggesting that the U.S. and China have resolved the
issues that were stopping them from signing a trade deal. Worth highlighting the
report was quite caveated and pointed to some remaining sticking points. Strong
Caixin services and composite PMI readings from China subsequently pushed the
rate to the session high of Y111.53, before it eased off somewhat within the
last half an hour.
- Bulls continue to target the the 200-DMA/down trendline from Nov 28 at
Y111.48/54, ahead of the previously broken channel base
support-turned-resistance at Y112.17. Conversely, bears look to the Y111.00
mark, flanked by the 100-HMA and 100-DMA, located 2 pips above and below the
figure respectively.
- Japanese calendar is rather light during the remainder of this week.

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