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USD/JPY last trades at Y110.95, 7 pips...>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY last trades at Y110.95, 7 pips worse off, as a degree of
risk aversion has crept into the G10 FX space.
- The Nikkei 225 futures are looking to a lower open.
- USD/JPY dropped 13 pips Wednesday, as the ECB's dovish rhetoric ignited some
downside momentum ahead of a further ~15 pip leg lower at the WMR fix. A late
doors uptick was noted upon the release of the latest FOMC MonPol meeting
minutes, which revealed that most members see no rate change this year.
- Bears look for a slide through Wednesday's low of Y110.84, locked between the
50-DMA and the cloud Kijun Sen. Below here opens Y110.79, which represents both
the cloud top and the 100-WMA. Meanwhile, bulls look to the 21-DMA at Y111.07,
which comes in ahead of the cloud Tenkan Sen at Y111.18.
- The Japanese docket during the remainder of this week is rather thin, with
focus on the BoJ Rinban ops due Friday.

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