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USD/JPY last seen at Y109.58, a touch....>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY last seen at Y109.58, a touch lower on the day.
- The rate climbed through yesterday's Asia-Pac session, as a stronger than exp.
CNY fix from the PBoC helped soothe nerves, even as trade war worries remained.
After topping out at Y109.83, the rate ebbed off of the level and staged a round
trip from its intraday high of Y109.93, tracking broader USD gyrations. A late
doors downtick prompted the pair to finish just 3 pips better off.
- Bulls look for a break above the 21-DMA, yesterday's high and the May 16 high,
which are clustered in the Y109.90-97 region. Bears need a slide through
Y109.46-48, which limited losses on May 9, 10, 23 and yesterday. This would
allow them to target Y109.02, which represents the May 13 multi-month low.
- Today's economic docket in Japan is quite densely packed and features domestic
unemployment, Tokyo CPI, flash industrial output and retail sales. BoJ 5-25+
Year Rinban ops will also be watched.

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