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Usd/Jpy: Nov20 close Y112.60, Nov21.....>

YEN SUMMARY
YEN SUMMARY: Usd/Jpy: Nov20 close Y112.60, Nov21 Asia range 112.51-70, Europe
Y112.41-60
*Eur-Jpy: Nov20 close Y132.10, Nov21 Asia range Y132.04-27, Europe
Y131.69-132.27
*In the absence of any economic data, consolidation was the theme in Asia.
Nikkei initially supported, but any gains were countered by soft US TSY yields
*Fresh supply emerged into Europe, rate touched pullback lows of Y112.43, before
fading
*The dollar gained a fresh bid tone, pared early losses, but with lack of follow
through settled in the middle of its narrow range
*Euro-yen remained well supported ahead of Y132.00, slippage through the Asia
low touched Y132.03 before dip buyers cushioned falls
*The euro started to encounter broad selling pressure, the break of Y132.00
triggered fresh supply, Eur/Usd added weight to print extended lows of Y131.69
*Persistent supply via the crosses saw Usd-Jpy squeeze out a fresh low of
Y112.41. Minor recoveries later bounced to Y112.45/Y131.85.

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