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USD/JPY began Thursday's Asia-Pac........>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY began Thursday's Asia-Pac session on the back foot as
questions arose re: the timing and location of signing the phase one U.S.-China
trade deal. However, the rate bounced and erased its earlier losses as Chinese
MOFCOM announced that Washington and Beijing agreed for a phased, coordinated
rollback of tariffs. The rally continued thereafter, with USD/JPY reaching its
intraday highs after the U.S. confirmed that a removal of some tariffs will be a
part of the initial deal. The rate slightly trimmed gains after RTRS reported
that the planned tariff rollback faces opposition from some White House
insiders, but still finished the day 30 pips higher.
- At typing, USD/JPY trades flat at Y109.30. Thursday's lift resulted in a break
above the Oct 30/Aug 1 highs of Y109.29/32 but the late doors leg lower resulted
in a close just shy of there. A firm push above those levels would prompt bulls
to target the peak of May 30 at Y109.93. On the flip side, a fall under the
200-DMA at Y109.04 would shift bearish focus to Y108.65, Thursday's low.
- Coming up in a few minutes is Japanese earnings/spending data.

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