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USD/JPY peaked at Y111.53 during the.....>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY peaked at Y111.53 during the EU morning on Tuesday, dropping
back to Y111.15 as EUR/JPY played catch up to EUR/USD slippage, but recovered
back to Y111.40/50 as U.S. equity indices moved away from worst levels. Last
Y11.45. 
- Near-term resistance is seen at the Aug 29 high (Y111.83), and a break of
Y112.00 would turn the short-term outlook more bullish, shifting attention to
the Jul 19 high (Y113.17). Bears target the 100-DMA (Y110.42).
- Focus remains on this week's Rinban operations and a speech from BOJ's
Kataoka, scheduled for Thursday.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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