Trump's anti-Fed tightening rhetoric.....>

DOLLAR-YEN: Trump's anti-Fed tightening rhetoric coupled with him pointing to a

low likelihood of a positive outcome at this week's U.S. China trade talks, as

well as a continued hard line against Turkey & Iran pressured USD/JPY to a low

of Y109.91 in early Asia-Pacific dealing, with the pair last dealing at

~Y110.00.

- This means that Monday's early rebound was far from corrective. The pair has

breached the Aug 13 low (Y110.11), with bears needing a close below the 100 &

200 DMAs (Y109.98/88) to open up a move to the Jun 26 low (Y109.37). On the

other hand bulls initially need a close above the August 16 high (Y111.12) to

shift the outlook positive.

- Focus likely to remain on global risk sentiment over the coming sessions ahead

of the release of the Fed's Aug meeting minutes, the Jackson Hole Symposium &

Japanese CPI data later in the week.