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USD/JPY edged lower overnight, last......>

DOLLAR-YEN: USD/JPY edged lower overnight, last dealing at Y112.75, but ignored
the latest trimming of the BOJ's Rinban operation, with many looking for such a
move in recent weeks.
- This comes after USD/JPY registered a high of Y113.14 on Wednesday, before
confirmation that the U.S. has initiated a national security probe into Uranium
imports triggered some modest JPY appreciation.
- Bulls remain focused on the Y113.24-74 region where the 200-WMA, 2018 & Dec
2017 highs are located. Overbought daily studies and the Bollinger top (Y113.23)
are the key concern for bulls and currently limit follow through. Bears now need
a close below the high from July 11 (Y112.17) to ease bullish pressure.
- Japanese CPI will hit on Friday.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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