USD/JPY last seen at Y110.17,............>

DOLLAR-YEN: USD/JPY last seen at Y110.17, virtually unchanged on the day. The

BoJ is set to deliver its MonPol decision today. Our preview can be accessed via

the following link: https://emedia.marketnews.com/BOJ_Preview_Jan_2020.pdf

- The rate opened slightly lower on Monday, but promptly recouped losses and

traded sideways through the rest of the day, with liquidity likely thinned by a

U.S. holiday.

- Bulls await the resumption of the uptrend, initially targeting the Jan 17 high

of Y110.29. A break here would bring the May 23 peak at Y110.36 into focus.

Bears look to a retreat below the Jan 15 trough at Y109.79, with the next layer

of support located at Y109.45, the low of Jan 13.

- Japanese FinMin Aso told lawmakers on Monday that the gov't is looking to

balance the budget by FY2025, five years ahead of its own baseline forecast.

- Data highlights in Japan this week include trade balance (Thursday), as well

as CPI and flash Jibun Bank m'fing PMI (Friday). Elsewhere, the BoJ will publish

the minutes from its Dec meeting (Friday).