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USDJPY touched session lows of 109.65....>

DOLLAR-YEN
DOLLAR-YEN: USDJPY touched session lows of 109.65 after the Washington Post
reported that US Special Counsel Mueller raised the possibility of a
presidential subpoena in a tense meeting with Trump's legal team, but JPY pared
its gains as Tsys softened in front of today's FOMC decision & US Tsy quarterly
refunding announcement. USDJPY last trades 5 pips or so softer at 109.80.
- As a reminder Japanese markets will be closed on Thursday & Friday, so expect
lower liquidity in JPY crosses.
- Sources point to offers above 110.00, and they believe that fresh bids should
occur near 109.45/50. - USDJPY bulls take comfort in the close above the 100-WMA
(109.48) with immediate bullish focus on Y110.22-49 where the 200-DMA and 55-WMA
are located. Overbought studies remain the key concern for bulls. Bears now need
a close below the 100-WMA to gain breathing room.
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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