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USD/JPY: downside open to 112.10?
• Yen headed for a break higher towards 112.10 vs the greenback? • Fed speak mixed, but equities robust as a likely cap on the yen? USD/JPY price action was subdued overnight despite a rally on Wall Street and higher rates. USD/JPY fluctuated between 112.90 and 113.40, closing at 113.06 while in Tokyo, the price is currently trading at 113.15, up 0.08% on the day, having posted a daily high at 113.20 and low at 113.00. Overnight, the DXY was up 0.4% while we had a lack of data to start the week off. There was some Fed chat that was crossing the wires. Starting with Fed's Williams, he said price-level targeting ... (full story)