USD/JPY extended its winning streak to...>

DOLLAR-YEN: USD/JPY extended its winning streak to three straight days on

Wednesday. Although the rate edged lower in Asia-Pac trade, it staged a rebound

in early Europe on the back of reports re: progress in research into a

coronavirus vaccine. Firmer than expected U.S. data prints helped lift the rate

further in the NY session.

- With the rate currently at Y109.79, almost unchanged on the day, bulls hope

for a further lift above the Y110.00 mark. This would bring the Jan 17

multi-month high of Y110.29 into view. A fall below the 50-DMA at Y109.23 would

return the focus to the downside, initially to the 100-DMA at Y108.81.

- Remaining highlights this week include today's address from BoJ's Masai &

tomorrow's earnings/spending data.