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USD/JPY last sits at Y111.32,............>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY last sits at Y111.32, unchanged on the day, after slipping
just 3 pips on Tuesday, which saw it stick to a narrow, ~20 pip range through
the day. Worth noting safe haven FX was relatively strong vs. other G10
currencies.
- Also on Tuesday, Japanese Econ Min Motegi said that trade talks with the U.S.
will get underway this month.
- A familiar technical picture remains in play, with bulls targeting the levels
highlighted in our recent Analysis e-mail, namely the 200-DMA/down trendline
from Nov 28 at Y111.48/54. A clean break above would open up the previously
broken channel base support-turned-resistance at Y112.17. Conversely, bears look
to the Y111.00 mark, located just above the 100-DMA.
- BoJ Rinban ops, due later today, will provide some interest.

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