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USD/JPY has a brief look above...........>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY has a brief look above Monday's Asia-Pacific high (Y112.56)
overnight, registering a high of Y112.57, although JPY struggled for any real
conviction, with the brief move higher in the JPY crosses quickly retraced.
- 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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