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USD/JPY last seen at Y111.30.............>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY last seen at Y111.30. Asia-Pacific hours saw JPY pressured
by buoyant risk appetite, fuelled by positive news re: Brexit & Sino-U.S. trade
relations, as well as some additional pressure around the Tokyo fix. A positive
session for regional equities didn't help the yen either, with the Nikkei 225
finishing ~1.8% higher.
- That being said, the cross only sits 10 pips higher on the day at writing.
- Bulls look for a breach of the cloud Tenkan Sen at Y111.40 before shifting
focus to the 200-HMA, situated at Y111.57. Meanwhile, bearish attention is drawn
to the 21-DMA at Y111.07 and a fall below would open up Y110.85, which
represents the cloud Kijun Sen.
- The BoJ is set to deliver its MonPol decision on Friday. With the MonPol
settings exp. to stay unch., focus will fall on rhetoric around the decision.
Worth mentioning Nikkei sources suggested that the BoJ may "cut its assessments
of exports and industrial production during this week's policy meeting," after a
similar view was expressed in our preview (see MNI Main Wire 11:16 GMT 03/11).
- Elsewhere, PPI, core machine orders and BoJ Rinban ops are all due tomorrow.

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