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USD/JPY last deals at Y112.01, barely....>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY last deals at Y112.01, barely changed on the day.
- Friday saw the yen weighed on by an impressive showing from global equities.
Risk-on flows allowed the rate to squeeze above the psychological Y112.00 level
for the first time since early March, and finish 36 pips better off. Worth
noting USD/JPY advanced in Friday's Asia-Pac session, after large EUR/JPY demand
emerged around the Tokyo fix, spilling over into all G10 yen crosses.
- As a reminder, U.S.- Japan trade talks are starting this week, as Japanese
Trade Min Motegi travels to Washington for a meeting with his U.S. counterpart
Lighthizer.
- Bulls remain focused on the nearby Mar 5 YTD high of Y112.14. A breach of the
level would expose the upper 1.0% 10-DMA envelope, situated at the Dec 20 high
of Y112.60. On the downside, initial attention is drawn to the 200-DMA at
Y111.51.
- Japanese industrial output and trade balance due Wednesday, national CPI due
Friday, as well as the usual BoJ Rinban ops take focus this week. Elsewhere, BoJ
Dep Gov Wakatabe will make a speech later today.

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