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USD/JPY has added a handful of pips......>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY has added a handful of pips and last trades at Y109.85. The
Nikkei 225 re-opened on the front foot as Japan returns from a public holiday.
- The pair finished near neutral levels as both sides struggled. JPY was
pressured by positive risk sentiment amid hopes that the spread of coronavirus
has stabilised. Meantime, USD was weighed on by Fed Chair Powell's concern over
economic fallout from the pathogen.
- Per BBG, Japan confirmed 39 further cases of coronavirus on a cruise ship
anchored in Yokohama. The total number of patients aboard equals 174 now.
- Bulls look for a jump above the psychological barrier/Feb 7 peak at
Y110.00/02, which would open up the Jan 17 multi-month high of Y110.29. A drop
below the 50-DMA at Y109.29 would encourage bears to target Y109.00.
- Looking ahead, Japanese docket features flash machine tool orders (today),
PPI (Thursday) & a speech from BoJ Dep Gov Amamiya (Friday).

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