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USDJPY remains at elevated levels in.....>

DOLLAR-YEN
DOLLAR-YEN: USDJPY remains at elevated levels in the middle of its narrow
Y111.29-46 range. Bulls need a close above the 100-dma & trendline resistance at
Y11.48/57, a break opens a run at the Y112.00 level and previous broken channel
base support-turned-resistance at Y112.12.
- Reminder of the large Y111.05-20 $2.19bn option expiry rolling off at today's
NY cut.
- US Durable Goods the main highlight at 1230GMT. Durable goods orders in the US
are expected to fall by 1.5% in February after rising by 0.3% in January. Boeing
orders fell sharply in February, which should allow transportation orders to
pull back. Durable goods orders excluding transportation are expected to hold
steady after a 0.2% decline in January.

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