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USD/JPY continues to be the talisman.....>

DOLLAR-YEN: USD/JPY continues to be the talisman for the dollar's recovery since
Friday having risen over 1.5% from last week's lows at the time of writing. As
US yields continue to climb (particularly in the shorter-end) ahead of $258bln
treasury supply across the week the dollar remains supported, lifting USD/JPY
closer to the near-term target of Y107.40/43. This marks the 23.6% Fib level for
the Y113.39-105.55 move and the 38.2% Fib level for the Y110.48-105.55 move
respectively. September lows coming in at Y107.32 also worth keeping an eye on
at current levels.
MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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