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USD/JPY last sits at Y110.57, a touch....>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY last sits at Y110.57, a touch lower on the day, after round
tripping from Y110.41. The yen outperformed from off, as the Nikkei 225 operated
in the red, weighed on by the fact that Topix went ex-dividend today. Yen demand
observable around the Tokyo fix also added some weight to JPY crosses.
- Having said that, JPY sits atop the G10 pile at writing.
- Bears look for a fall through the 50-DMA at Y110.50 towards Y110.33, which
represents both the 100-HMA and the 55-DMA. Conversely, bulls keep an eye on
yesterday's high of Y110.69 after a failed attempt at breaching the level. Above
here opens the cloud Tenkan Sen at Y110.58.
- Worth mentioning $1.4bn worth of options with strikes at Y110.70-75 expire at
today's 1000ET NY cut.
- Japanese focus turns to domestic industrial output, labour mkt data and Tokyo
CPI, as well as BoJ 5-25+ Rinban ops, all due Friday.

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