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USD/JPY still struggles for any real.....>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY still struggles for any real traction below Y108.00, after
having a look below the figure in the NY afternoon and during early Asia trade,
aided by the dovish remarks from Fed's Bullard and capitulation in Tsy yields
evident on Monday.
- Rate last deals little changed at Y108.05. Bears look for a clean break below
the Y107.77 Jan 10 low to open the way lower, while bulls look for a move back
above the 61.8% retracement of the move from Y104.56-114.55 at Y108.38, followed
by the 50% retracement of the move from Y99.02 to Y118.66 at Y108.84.
- Broader risk-based flows will likely continue to dominate price action.
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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