The July 19 high (Y113.17) capped........>

DOLLAR-YEN: The July 19 high (Y113.17) capped USD/JPY on Wednesday, with the

rate ultimately closing near session lows as U.S. yields moved lower post-FOMC,

last dealing at 112.75. Bulls continue to target a break of the aforementioned

July 19 high, while bears look for a move back below Y111.60.

- U.S.-Japan trade talks have commenced, with tariffs on Japanese automobiles on

hold until the negotiations conclude.

- Japanese PM Abe has stated that Japan won't "go further than the current

deals" re: farm tariffs, according to BBG reports, after U.S. President Trump

noted that he is "sure that we will have a very good deal with Japan."

- Focus now turns to BOJ Rinban operations due later today, as well as a speech

from BOJ Governor Kuroda, followed by the BOJ's October JGB purchase plans &

summary of opinions from its latest MonPol decision, both due Friday.