USD/JPY has dropped after U.S............>

DOLLAR-YEN: USD/JPY has dropped after U.S. President Trump signed the

contentious Hong Kong bill into law, commenting that he did so out of respect

for the city's people. The rate now sits at Y109.36, 19 pips worse off.

- Bears look for a retreat under the 200-DMA at Y108.93 towards the low of Nov

25 at Y108.64. Conversely, bulls need to retake Wednesday's peak at Y109.61, the

best level since May 31. Above would open the May 30 high of Y109.93. 

- The slip in early Asia-Pac trade today represents some unwinding of

Wednesday's rally, fuelled by generally firmer risk sentiment and beats in U.S.

GDP, durable goods and initial jobless claims.

- Japanese retail sales are due shortly, with Tokyo CPI, unemployment and flash

industrial output due tomorrow.