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USD/JPY last trades flat at Y111.18......>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY last trades flat at Y111.18 after falling almost 20 pips
Wednesday. The Nikkei 225 is set to open on the front foot, after Wednesday saw
European & U.S. stocks edge higher.
- Wednesday's Asia-Pacific session saw JPY outperform its G10 peers before
USD/JPY bounced from worst levels, alongside the Nikkei 225. The rate then
climbed gradually through the European morning, before a strong U.S. durable
goods print lifted it to intraday highs of Y111.31.
- This was followed by a ~20 pip leg lower around the London fix, before
tracking gyrations in Tsy yields later in the day.
- Bears focus on the 21-DMA at Y111.11, and the next layer of support below
comes at Y110.85, which represents the cloud Kijun Sen. Meanwhile, bulls need to
clear the 100-DMA at Y111.32 before challenging the 200-DMA, situated a further
10 pips above.
- The BoJ will deliver its MonPol decision on Friday, which provides the
highlight of this week's Japanese docket.

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