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USD/JPY last deals at Y111.63, 46 pips...>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY last deals at Y111.63, 46 pips better off on the day, as USD
outperformed. The Nikkei 225 started on the front foot, but gradually eased off
to finish marginally below yesterday's close, yet failed to support the yen in
any substantial way.
- After a clean breach of the 100-DMA at Y111.31 and the 200-DMA at Y111.43,
bulls now target Y111.86/92 where the rate peaked on Mar 7/6. Meanwhile, bears
look to a return below the aforementioned key DMAs, before shifting focus to the
100-HMA at Y111.25.
- Worth mentioning $1.16bn worth of options with strikes at Y111.00 expire at
today's 1000ET NY cut.
- All eyes are on the BoJ, which is set to deliver its MonPol decision tomorrow.
With MonPol settings exp. to stay unchanged, participants will be attentive to
the rhetoric surrounding the decision.

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