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USD/JPY sitting 5 pips higher at.........>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY sitting 5 pips higher at Y110.32, with the FX space
exhibiting limited, if any, reaction to the weekend rhetoric between U.S.
President Trump & his Chinese counterpart Xi re: trade, with U.S. equity index
futures back from early highs at writing. This comes after the rate shed 75 pips
or so Friday, as pressure on equities supported JPY.
- Bears initially eye the recent downtrend towards the Aug 21 low at Y109.78.
Bulls need to recover Y112.38, the 100-DMA, to stabilise the short-term outlook.
More immediate support is noted at Friday's intraday low of Y110.15, while
initial resistance is located at the 200-DMA of Y111.06.
- Worth remembering that Tokyo will be closed until Friday, which will likely
impact JPY liquidity.
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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