Despite an early uptick, USD/JPY lost....>

DOLLAR-YEN: Despite an early uptick, USD/JPY lost altitude into Wednesday's

London morning, as the Nikkei 225 headed lower. Decent selling pressure took the

rate below Tuesday's worst levels, before U.S. hours saw the slide lose momentum

as the rate approached its 50-DMA.

- Yomiuri reported that the U.S. told Japan that it wans to hold a G7 summit on

Aug 31 - Sep 1. PM Abe would reportedly be interested in attending.

- Another Yomiuri piece noted that Japanese Energy Minister Kajiyama will soon

unveil plans to halt 100 coal power plants over the next decade.

- With USD/JPY sitting -4 pips at Y107.43, bears look for a fall through the

50-DMA at Y107.39 & Jun 26 low of Y106.80 before setting their sights on Jun 23

low of Y106.07. Bulls need a jump above yesterday's peak at Y108.16 before

taking aim at Jun 9 high of Y108.54.

- Japanese data docket is relatively light during the remainder of this week,

monetary base headlines today.