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USD/JPY last deals at Y107.90,...........>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY last deals at Y107.90, oscillating within a tight range in
early trade. Only lower tier data figures on the Japanese docket today.
- The rate received a boost into yesterday's Tokyo fix but failed to hold above
Y108.00 and gradually gave away some of the earlier gains, yet finishing 16 pips
better off. 
- Clearance of Y108.00 would please bulls, shifting their focus to Y108.11,
which represents the 23.6% fibo retracement of the Y112.40-Y106.78 slide. Above
would open the descending trendline at Y108.31. Bears continue to target the Jul
19/18 lows at Y107.22/21.
- Asahi reported that Foreign Ministers of Japan, China and South Korea eye
talks in August.
- BoJ Gov Kuroda spoke at the IMF in Washington, repeating familiar themes. He
said that the Bank monitors elevated global uncertainties and pledged that the
current powerful monetary easing will be maintained.
- Flash Jubun Bank PMI readings are due on Wednesday, with Tokyo CPI due on
Friday. The next round of BoJ Rinban ops is scheduled for Friday.

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