USD/JPY last deals at Y112.60, down......>

DOLLAR-YEN: USD/JPY last deals at Y112.60, down ~25 pips on the day, back from

lows of Y112.49. 

- The yen has outperformed all the majors in the Asia-Pacific session, as

equities moved lower, following the negative lead from Wall St., worry re:

Chinese stocks & trepidation ahead of Japanese earnings season. 

- On the other hand, pressure from the equity markets was partially offset by

the upside force of rising U.S. real yields, which are hitting new cycle highs. 

- Bulls need to retake the 38.2% fibo retracement from the Oct highs to the Oct

lows at Y112.74 to open up a move to the 61.8% level at Y113.43. Meanwhile,

immediate support is noted at Monday's intraday low of Y112.35, further out

bears keep an eye on the up trendline support at Y111.88 before targeting the

100-DMA at Y111.50 in search of an extended reversal pattern.