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USD-YEN: European open Y112.68, range...>

YEN SUMMARY
YEN SUMMARY: USD-YEN: European open Y112.68, range Y112.12-112.68, NY open
Y112.23, range Y112.06-112.27
*The dollar continued defensive in early Europe and moved through
support from the Asia low to Y112.43.
*With the dollar under persistent selling pressure in the European morning,
Usd/Jpy touched extended pullback lows of Y112.12 before losing momentum ahead
of NY.
*Early NY saw renewed dollar pressure, as US Tsys Yields slipped and gold
firmed, the rate drifted to fresh session lows of Y112.06.
*Having earlier stalled ahead of support from the 100-dma (Y112.05),
the dollar continued to pare losses with recovery efforts extending to the
Y112.23/28 area.
*The pair came under fresh pressure at the 4PM WMR with the rate dropping back
towards Y112.10. As the fix ended the rate grinded back towards Y112.30. The
rate bounced between Y112.20/30. 
*The dollar gets a lift towards the close with rate grinding towards Y112.40.

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