USD/JPY has slipped 15 pips, weighed.....>

DOLLAR-YEN: USD/JPY has slipped 15 pips, weighed on by a soft opening for the

Nikkei 225, which last trades ~1.8% lower. The rate sits at Y110.37 at writing.

- Wednesday saw the pair finish 13 pips lower, with the yen topping the G10 pile

amidst broader risk aversion and soft U.S. Tsy yields.

- Worth mentioning a Nikkei article highlighted that yesterday "Japanese

lawmakers passed a record-breaking fiscal 2019 budget that includes 2.03

trillion yen ($18.4 billion) in measures aimed at softening the impact of a

looming consumption tax hike on an economy already facing broader uncertainty."

- Bears look for a break below the 100-HMA at Y110.28, which has limited losses

thus far, before challenging the cloud top at Y110.07. On the topside, bulls eye

the 50-DMA, located at Y110.52, after the pair peaked a pip above in early

Asia-Pac trade. A clean jump above that level would open up the cloud Tenkan Sen

at Y110.70, situated a pip below yesterday's high.

- Japanese focus turns to a batch of domestic econ releases, including

industrial output, Tokyo CPI and labour mkt data, due tomorrow. Friday's 5-25+

BoJ Rinban ops will also provide some interest.