With Japanese markets closed for a.......>

DOLLAR-YEN: With Japanese markets closed for a bank holiday, trade volumes

remained light overnight held to a narrow Y112.17-40 range. Focus again remains

toward the Y112.05/00 area which holds tech support at Y112.07/06/03 (100-dma,

Jan2 low & Dec15 low), a break here opens Y111.95 (61.8% Y110.84-113.75), ahead

of Y111.74/68 (Nov30 low, 200-dma). Resistance at Y112.39/40 (Daily cloud base,

Asia high). Last Y112.34.

* On the US calendar today, main highlights from ISM Manufacturing at 1500GMT.

The ISM manufacturing index is expected to dip slightly to 58.0 in December,

down from the levels seen in September and October, but still indicating

strength. Most of the regional conditions data suggest growth accelerated, but

there were some regional declines that provide some downside risk.

* Rounding off the day at 1900GMT is the key release of the session, US Federal

Reserve releases minutes from the December 12-13 FOMC meeting in Washington.

* Option-expiries today at Y109.21-30($600mn), Y113.50-55($310mn),

Y113.70-75($335mn).