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USDJPY printed lows of 108.87 and last trades...>

YEN
YEN: USDJPY printed lows of 108.87 and last trades back around 109.00. There was
nothing in the way of headline catalysts. Some are pointing to tomorrow's
decision from US President Trump re: the Iran nuclear deal, with many expecting
him to scrap the deal.
- USDJPY's hesitation ahead of the 200-DMA (110.19) combined with daily studies
correcting from overbought levels is a concern for bulls and currently weighs.
Bears continue to look for a close below hourly support from April 23 (108.54),
after a brief look below the daily bull channel base off the YtD lows (108.95)
in early Asia-dealing. Bulls still need a close above 109.54 to gain breathing
room and above the 55-WMA (110.48) to target a move higher.
- Sources also point to AUDJPY selling from Tokyo names, with the cross last
trading at 81.90. The Bollinger band base (81.79) provides the initial level of
downside interest in the pair.
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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