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USD/JPY ebbed lower yesterday,...........>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY ebbed lower yesterday, pressured by broader risk aversion.
It managed to punch through the Y108.00 mark and challenge its 50-DMA a week
after breaking above these levels.
- The pair last sits at Y107.76, virtually unchanged on the day. Aforementioned
50-DMA at Y107.68 provides the initial bearish target, followed by Jun 2 low of
Y107.51. Bulls look to return above the Y108.00 figure before taking aim at Jun
5 high of Y108.85.
- Worth reminding that yesterday S&P revised Japan's credit rating outlook to
stable from positive, leaving the country's score at A+. 
- Focus in Japan turns to today's PPI data and core machine orders.

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