USD/JPY last sits at Y108.16, barely.....>

DOLLAR-YEN: USD/JPY last sits at Y108.16, barely changed on the day.

- The pair slid into Wednesday's London morning, meeting option-related support

at Y108.00. There was talk of positioning ahead of rate decisions from the ECB,

Fed and BoJ (all due by the end of this month) driving price action early on. 

- With MonPol matters in focus, the rate knee-jerked higher as PM Abe's adviser

Hamada said that the BoJ may need to act on JPY if the Fed eases policy.

- USD/JPY traded sideways for the good part of the London session, with a

knee-jerk spike higher noted as RTRS reported that BoJ members are divided on

whether to ease monetary policy next week or hold off on action.

- Disappointing economic data out of the U.S. briefly sent the pair to its

intraday lows, but subsequent recovery allowed it to finish almost unchanged.

- Bears look for a dip below the nearest round figure before setting their

sights on the cloud Tenkan Sen/cloud Kijun Sen at Y107.91/89. Conversely, a

breach of the trendline resistance at Y108.26 would open the 50-DMA at Y108.44.

- Japanese services PPI is expected later today, while Tokyo CPI hits on Friday.