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USD/JPY has shed 20 pips overnight and...>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY has shed 20 pips overnight and last sits at Y109.76. JPY
edged higher around the Tokyo fix before the AUD/JPY sell-off further boosted
the yen. 
- Bears focus on Y109.63 (Y109.50-65 expiries $2.22bn), which limited losses
overnight, before shifting focus to the 100-HMA at Y109.49. Meanwhile, after a
brief look above overnight, bulls need a breach of the key Y110.00 level before
challenging the YTD high of Y110.16, followed by the upper Bollinger band (2%)
at Y110.31. 
- Japanese trade balance (BoP basis) hits on Friday, while BoJ Rinban ops will
also be of interest.

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