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USD/JPY last deals at ~Y111.25,..........>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY last deals at ~Y111.25, operating in a tight, albeit lower
range in early dealing this week.
- This comes after the pair took a leg lower on Friday, breaking below Y111.32
to challenge the constructive tone generated over the past couple of sessions.
Although the decline was limited by channel support on intraday charts at
Y111.09, keeping the move within a corrective framework for the time being. A
further break below Y110.75 would signal a bearish reversal. Gains back above
Y111.86 are now needed to refresh the bullish picture suggesting a retest of
Wednesday's highs at Y112.15.
- The summary of opinions from the BOJ's July MonPol decision, due Wednesday, &
Friday's Japanese GDP release provide the highlights this week.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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