USD/JPY has shed 8 pips & last deals.....>

DOLLAR-YEN: USD/JPY has shed 8 pips & last deals at Y109.56, as JPY modestly

outperforms in early Asia trade. This comes after the rate closed 4 pips lower

yesterday, as JPY was aided by risk-off flows triggered by apparent difficulties

in Sino-U.S. trade talks. Yesterday U.S. Commerce Sec Ross told CNBC that the

U.S. & China are far from reaching a trade deal. The Nikkei reported that the

Sino-U.S. trade dispute can delay Japan's own trade negotiations with the U.S. 

- Japanese Tokyo CPI print comes out at the bottom of the hour. The headline

print is exp. to decline to 0.2% from 0.3%, while the core print is exp. to stay

at 0.9%. 

- Bears need a breach of Thursday's low of Y109.42 before targeting the 21-DMA

at Y109.05, while bulls look for a jump above Thursday's high of Y109.80, ahead

of the Jan 23 YTD high of Y110.00. 

- Japanese focus next week turns to retail sales due Weds, industrial output due

Thurs, labour mkt data due Fri & the BoJ Rinban ops. Elsewhere, Thurs will see

remarks from BoJ Dep Gov Amamiya & BoJ Dep Gov Nakaso (alongside PM Abe), as

well as the release of BoJ summary of opinions from its Jan MonPol meeting.