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USD/JPY trades 5 pips higher on the......>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY trades 5 pips higher on the day, at Y107.73, after a look at
Y108.00 in early Asia-Pacific trade. Pull back occurs as the Nikkei 225 sheds
~3.5% in the first trading session of 2019. Market reacting to lower U.S. Tsy
yields, worries over Apple's earning outlook, a firmer JPY & the FX flash-crash.
- Recovery efforts from the flash crash lows extended through Europe/U.S.
Thursday before topping out around the 76.4% retracement of the daily range.
Bulls need to recover Y109.00 to suggest a bullish reversal is in play. Bears'
near-term focus turns toward the 50% retracement of Y104.87 to Y108.00 move at
Y106.44.
- Nikkei 225 dynamics & the BoJ's 5-10 Year Rinban operations provide the points
of interest today.
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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