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USD/JPY extended losses into the Tokyo...>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY extended losses into the Tokyo fix and last sits at Y108.92,
10 pips lower on the day. The local PPI figures, released earlier today,
slightly undershot MNI median forecasts.
- Yesterday saw the rate advance through the Asia-Pac session, with gains capped
at the Oct 30 high of Y109.29. After hitting resistance there, USD/JPY slid
through the rest of the day. U.S. Pres Trump's comments that Washington could
raise tariffs on China if no trade deal is struck allowed the pair to dip
further and finish slightly in the red.
- Bears look for a dip under the Nov 7 low of Y108.65, towards the channel
support at Y108.54. The topside focus falls on the nearby 200-DMA at Y109.02 and
a break above would expose the Nov 11 high of Y109.49.
- In the local stocks news, Nissan removed its dividend outlook and said that it
is now undecided on the payout.
- The remaining key Japanese data releases this week are flash Q3 GDP (Thursday)
and final industrial output (Friday).

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