USD/JPY has shed 8 pips and trades at....>

DOLLAR-YEN: USD/JPY has shed 8 pips and trades at Y109.45. Japanese Health

Minister informed that 10 passengers of a cruise ship anchored in Yokohama have

tested positively for the novel coronavirus.

- Bears look at the Y109.21 50-DMA as their initial target and a break here

would open up the 100-DMA at Y108.78. Meanwhile, bulls focus on the Jan 17 high

of Y110.29, a key bull trigger.

- The rate was bid yesterday as risk appetite reared its head. Sentiment turned

positive in Asia-Pac hours, as the PBoC continued to implement supportive policy

measures to limit the post-LNY market rout.

- BoJ Gov Kuroda told lawmakers yesterday that the central bank monitors the

economic impact of the Wuhan virus and is ready to take additional easing steps

if necessary.

- BoJ Dep Gov Wakatabe speaks later today, while his colleague Masai appears on

Thursday. Japanese earnings/spending data is due on Friday.