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Usd/Jpy: Asia open Y114.08, range.......>

YEN SUMMARY
MNI (London)
YEN SUMMARY: Usd/Jpy: Asia open Y114.08, range Y113.89-114.09. Europe open
Y113.98, range Y113.96-114.15.
* Usd/Jpy recovered off its sharp dip low of Y113.54 Thursday, closed back above
Y114.00. 
* Tokyo closed for Culture Day, which along with usual pre-NFP subdued trading
led to thin markets.
* Rate dipped to Y113.89 early Asia, struggled to hold recovery gains above
Y114.00.
* Rate opened Europe around Y113.96 before general Usd demand edged rate
initially to Y114.14 then onto Y114.15.
* Eur/Jpy tracked Eur/Usd, extended intraday lows to Y132.78 with recovery
effort capped below Y133.00. 
* Traders aware of decent sized expiries for today's NY cut, Y114.00($2.22bn),
Y114.50($1.13bn).
* Offers reported at and above Y114.20, stronger into Y114.45/50. Stops noted on
break above.    
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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