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USD/JPY continued its slow climb.........>

DOLLAR-YEN: USD/JPY continued its slow climb through NY hours on Tuesday, with
part of the move linked to a JPY negative M&A deal. The rate last deals at
- The cross has been gathering renewed momentum but has so far struggled to
build on gains above Y111.50, although Tuesday's close above this level will
help the bullish case. Bulls are targeting the September 06 high (Y111.76),
above here would open up the July 19 high (Y113.17). Bears continue to target
the 100-DMA (Y110.60).
- Focus now returns to BOJ Rinban ops for the remainder of the week.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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