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USD/JPY trades around best levels on.....>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY trades around best levels on the session, supported by an
uptick in US equity index futures, last trading at Y112.45, off of the early
session low of Y112.11.
- This comes after the MNI FX Technical Signal Monitor generated a clean sweep
of bullish technical signals on Friday.
- Support around the 21 & 200-DMAs provided the base for continued fresh 7-month
highs in USD/JPY last week, with initial bullish focus now on the Y113.24-74
region where the 200-WMA, 2018 & Dec 2017 highs are located. Overbought daily
studies and the Bollinger top (Y112.40) are the key concern for bulls with
potential to limit follow through. Bears now need a close below hourly support
from July 11 (Y111.86) to ease bullish pressure and below Y111.35 to shift focus
lower.
- JPY crosses will be subject to diminished liquidity on Monday, with Japan
observing a national holiday. Later in the week focus will turn to Japanese CPI
data, due Friday
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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