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USD/JPY last deals at Y108.12, 7 pips....>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY last deals at Y108.12, 7 pips lower on the day.
- The pair edged higher initially before light pressure emerged into the Tokyo
fix. USD/JPY remained slightly heavy, defying expectations of those expecting
demand linked to a firmer Nikkei 225 & a Gotobi day in Japan. The yen led gains
among G10 currencies eventually.
- Chunky option expiries with strikes at Y107.90-00($1.45bn) and
Y107.70-80($1.85bn) are expected at today's 10:00ET NY cut.
- Familiar technical levels remain in play, with bears looking for a break under
the Y108.00 mark. This would expose the cloud Kijun Sen at Y107.89. Bulls eye a
breach of the trendline resistance at Y108.26 before attempting a move at
Y108.44, the 50-DMA.
- Tokyo CPI and the BoJ's latest round of 10-25+ Year Rinban operations are
awaited tomorrow.

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