USD/JPY ebbed lower in yesterday's.......>

DOLLAR-YEN: USD/JPY ebbed lower in yesterday's London hours, but trimmed losses

as Fed Chair Powell talked down negative rates. This leaves the rate testing the

Y107.00 mark to the downside this morning, amid little new to push the rate

either way.

- Japanese Economy Minister Nishimura said yesterday that the gov't & central

bank are working together to shore up domestic economy. He added that Tokyo and

Osaka will remain in a state of emergency at least until end-May.

- The rate sits at Y107.03, virtually unchanged on the day. Bears keep an eye on

May 11 low of Y106.74 and a fall below there would open up May 6 & 7 lows of

Y105.99. Bulls see May 11 high of Y107.77 as their initial target. A break above

there would clear the way to Apr 16 & 17 highs of Y108.08.

- Japan's flash machine tool orders hit today, while PPI comes out on Friday.