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USD/JPY bounced off an early Asian low...>

DOLLAR-YEN
MNI (London)
DOLLAR-YEN: USD/JPY bounced off an early Asian low of Y106.51, local traders
reporting some decent demand in the area into Y106.50, before rate recovered
through a holiday thinned Asian session, as well as the European morning, to
Y106.90. JPY picked up fresh demand during the US session which pressed rate to
an extended low of Y106.48 where it again met demand interest, though recovery
effort this time fairly muted as it edged to Y106.58. Traders will watch to see
if if that stronger demand emerges again in Asia. Support is noted close behind
at Y106.41/36(Apr30-29 lows), a break here to expose a deeper move toward
Y106.15/00.  
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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