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(M2) Correction Extends


Late Session Rebound


(M2) Corrective Cycle Remains In Play


(M2) Gains Still Considered Corrective

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DOLLAR-YEN: USD/JPY has stuck to a 25 pip range thus far, and last deals 15 or
so pips higher, at Y111.93.
- Monday's initial bout of risk aversion saw the cross register a low of Y111.63
in early EU trade, roughly coinciding with trend line support at ~Y111.65 after
a break below the 50- & 55-DMAs, which have now been recovered as U.S. index
futures tick higher.
- The same trend line offers initial support today, with resistance noted at the
200-WMA (Y113.13).
- Participants look to the BOJ's Rinban operations due Wednesday & Friday,
addresses from BOJ Gov. Kuroda (Thursday & Friday) & Dep. Gov. Amamiya
(Saturday) & Japanese CPI due Friday.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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