USD/JPY advanced 17 pips overnight and...>

DOLLAR-YEN: USD/JPY advanced 17 pips overnight and last deals at Y112.84, off of

session highs at Y112.93 with the yen sitting at the bottom of the G10 pile,

after the Nikkei 225's afternoon gain pushed the rate to a fresh session high of

Y112.93. 

- BoJ Governor Kuroda has pointed to the continued need for current levels of

monetary easing for a second day, using familiar language in the process. He has

also stressed that the BoJ's adjustments to YCC in July did not represent

stealth tapering. 

- Bulls look for a break above the 50-DMA at Y113.07, which would shift their

focus to yesterday's highs of Y113.21. Conversely, bears continue to eye the

100-DMA/yesterday's low at Y112.27/24 and a break below that level would allow

them to target the cloud base at Y112.46. 

- Focus next week turns to the latest BoJ Tankan survey and final GDP data out

of Japan.