USD/JPY last seen at Y105.77,............>

DOLLAR-YEN: USD/JPY last seen at Y105.77, virtually unchanged on the day.

- The rate lost ground through the Tokyo hours on Tuesday as earlier enthusiasm

re: global trade matters gradually dissipated, with investors weighing

conflicting signals. London trade saw the pair bounce to Y105.99 before it

retreated. Another recovery attempt was noted in NY hours, but it also proved

short-lived and the rate finished 38 pips lower on the day.

- Bears look for a fall through the Aug 23 low of Y105.26, which would clear the

way to Y105.05, which registered an intraday low on Aug 12. Conversely, a

recovery of the Y106.00 figure would expose the 21-DMA/23.6% fibo retracement of

the YtD decline, which come in at Y106.31/33.

- Japanese Foreign Min Kano met his Iranian counterpart Zarif; IRNA reported

that both countries are working on a financial mechanism to allow trade.

- BoJ's Suzuki speaks on Thursday, while Friday will see the release of Japanese

economic activity data, Tokyo CPI figures and the next round of BoJ Rinban ops.