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USDJPY moved higher in early.............>

DOLLAR-YEN
DOLLAR-YEN: USDJPY moved higher in early Asia-Pacific dealing, crossing above
Monday's high, the 200-DMA and the June 06 high (110.27). The cross topped out
at 110.49, as EURJPY faltered ahead of Monday's peak (and EURUSD took a hit),
which put a lid on USDJPY.
- USDJPY weathered the USD bid that came after the Tokyo re-open, having the
most limited reaction of the USD/major block.
- The cross has moved back towards highs in the last few minutes as US President
Trump noted that his summit with North Korean leader Kim went "better then
anyone expected," the two leaders are expected to sign something soon, but Trump
wouldn't reveal what.
- Resistance is noted at the May18 low/76.4% of the move from 111.40 to 108.11
(110.61/62).
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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