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USD/JPY has edged higher & last trades...>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY has edged higher & last trades at Y109.44 after adding 5
pips Tuesday, with price action largely driven by broader gyrations in risk
appetite. The Nikkei 225 is poised to open around unchanged levels at writing. 
- Y109.54, where the rate peaked Tuesday, attracts initial bullish attention,
while the next layer of resistance above is provided by the Jan 23 YTD high of
Y110.00. Conversely, initial support is located at Y109.27, which represents the
38.2% fibo retracement of the move from Y125.86 to Y99.02, ahead of Tuesday's
low of Y109.13. 
- Japanese retail sales are due within 10 mins, while industrial output hits on
Thursday & labour mkt data comes out Friday. Elsewhere, BoJ Dep Gov Amamiya &
BoJ Dep Gov Nakaso will speak Thursday, while the BoJ summary of opinions from
its Jan MonPol meeting comes out on the same day. Usual BoJ Rinban ops will also
attract attention.

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