USD/JPY has added 8 pips so far and......>

DOLLAR-YEN: USD/JPY has added 8 pips so far and last trades at Y108.22. The yen

marginally underperforms within the G10 FX space, with the Nikkei 225 futures

pointing to a higher open in the wake of Tuesday's positive showing from the

European & U.S. equities.

- Bulls keep an eye on Tuesday's & Monday's highs, located at Y108.36 & Y108.45

respectively. Above there opens the Y109.00 mark. Bears look for a dip below

Y108.00 before challenging the lower 1.0% 10-DMA envelope/Tuesday's multi-month

low at Y107.89/85.

- Tuesday saw the rate fluctuate before finishing 8 pips higher on the day, with

JPY sitting at the bottom of the G10 pile. Despite touching a fresh multi-month

low into the European session, USD/JPY continued to trade either side of Y108.00

before cleanly breaching the figure in the London afternoon as a move higher in

benchmark equity indices in Europe & the U.S. applied pressure on JPY.

- Japanese labour cash earnings & household spending data comes out on Friday,

while BoJ Gov Kuroda speaks on Thursday.