*CORRECTION* USD/JPY round tripped.......>

DOLLAR-YEN: *CORRECTION* USD/JPY round tripped from an intraday low of Y109.66

on Tuesday, charting a Doji candlestick. The initial downswing was driven by

coronavirus concerns, revived by Apple's warning that meeting its revenue

guidance for this quarter may prove out of reach. However, better than expected

U.S. Empire M'fing Survey put a fresh bid into the pair & after a modest

correction into the WMR fix the rate finished virtually unchanged.

- The yen has shrugged off local data releases from the last few minutes. Trade

deficit was narrower than estimated amid a smaller than expected slump in

exports twinned with a larger than forecast decline in imports. Core machine

orders fell more than projected, both on a M/M & Y/Y basis.

- Japan will start releasing some passengers from the Diamond Princess cruiser

later today. The number of Covid-19 cases confirmed aboard has reached 542.

- USD/JPY sits +6 pips at Y109.93. A jump above the Feb 12 high of Y110.13 would

open the Jan 17 multi-month high of Y110.29. On the downside, the initial target

is provided by the Feb 13 low of Y109.62, followed by the Feb 7 low of Y109.53.

- Coming up later this week are national CPI & flash Jibun Bank PMIs (Friday).