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USD/JPY rebounded ahead of the...........>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY rebounded ahead of the Y111.25/17 key support area on
Wednesday, with the pair sticking to a 40 pip range in NY hours. The cross last
deals just shy of Y111.70 last. A push back above Y111.75/80 will trigger
renewed bullish signals, suggesting that a corrective bottom has been traded at
~Y111.30. The current rebound is supported by bullish intraday technical
indicators, as well as positive trend and momentum indicators on daily charts.
Once above 111.75/80 focus will return to the 112.15 recent high and then the
113.17 July highs.
- The upcoming minutes from the BOJ's June MonPol meeting, is somewhat outdated,
with JPY traders set to focus on the BOJ's Rinban operations covering the 5-25+
Year buckets.
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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