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USD/JPY managed to extend the recent.....>

DOLLAR-YEN
MNI (London)
DOLLAR-YEN: USD/JPY managed to extend the recent recovery, and Wednesday's break
above Y111.00, to Y111.13 in Asia but efforts to try and build further
struggled. This faltering prompted some to pare back longs with the selloff
gaining pace on release of weaker than forecast US Retail Sales. A rush to exit
longs provided the weight to take rate down to Y110.50 where it met support.
Brief recovery to Y110.82 before rate drifted back to Y110.60 toward the close. 
- Support Y110.50, Y110.35/30. Resistance Y110.80/85, Y111.00 ahead of Y111.13. 
- Japan IP/Cap.Ut. due Friday at 0430GMT. 
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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