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USD/JPY failed to re-test Monday's.......>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY failed to re-test Monday's Asia-Pacific high (Y1112.56) in
U.S. hours, despite a slightly stronger than expected headline U.S. retail sales
release, with the level representing the initial resistance point today. Bulls
continue to focus on the Y113.24-74 region where the 200-WMA, 2018 & Dec 2017
highs are located. Overbought daily studies and the Bollinger top (Y112.58) are
the key concern for bulls with potential to limit follow through.
- Bears now need a close below hourly support from July 11 (Y111.86) to ease
bullish pressure.
- Japanese CPI, due Friday, provides the highlight of the Japanese docket this
week.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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