USD/JPY deals at Y113.05 having..........>

DOLLAR-YEN: USD/JPY deals at Y113.05 having advanced ~30 pips yesterday as JPY

found itself near the bottom of the G10 pile, one of the few majors to

underperform USD on the day, as U.S. equity markets regained some composure,

although they softened into the close. 

- JPY saw no reaction to the release of Japanese CPI, which met exp., but the

rate registered a peculiar ~20 pip spike higher in early Asia-Pac dealing. 

- The Nikkei has reported that Japan will spend >Y2.0tn to mitigate the effects

of the planned sales tax hike, due in 2019. 

- Bulls seek a clean break above the 21-DMA/yesterday's high of Y113.14/15

before shifting their focus to the 50%/61.8% fibo retracement of the move from

Y114.21 to Y112.31 at Y113.26/48. Meanwhile, bears need to move through the

50-DMA at Y112.93 before challenging Weds intraday lows of Y112.65. 

- As a reminder, Japan will observe a national holiday tomorrow.