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USD/JPY last trades flat at Y110.58......>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY last trades flat at Y110.58 after falling almost 50 pips
yesterday, as broader risk-off flows buoyed the yen during Asia-Pacific trade,
dragging the rate back below the Y111 mark, while the USD weakened notably
around the 16:00 GMT fix. Risk sentiment was pressured by tensions in the
India-Pakistan relations and fresh controversies around the Chinese tech giant
Huawei, as well as particularly disappointing U.S. housing starts numbers.
- Worth mentioning that Japanese opposition called BoJ Gov Kuroda to appear in
the Diet around 1300-1400JST, while Dep Gov Amamiya is set to speak to lawmakers
at 1030JST.
- Initial support noted at the Feb 19 low of Y110.45 and a fall through that
level would open up the 21-DMA at Y110.25. Meanwhile, bulls look to the 200-HMA
& the down trendline from Dec 14 at Y110.68, with the next layer of resistance
above there provided by the cloud Tenkan Sen at Y110.75.
- Japanese focus turns to industrial output due Thursday, as well as labour mkt
data, Tokyo CPI & Nikkei m'fing PMI due Friday. Elsewhere, BoJ's Kataoka will
speak within an hour's time, while BoJ's Suzuki will speak on Thursday.
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