USD/JPY last sits at Y111.58, 6 pips.....>

DOLLAR-YEN: USD/JPY last sits at Y111.58, 6 pips lower. Japanese docket is quite

data-heavy today, with industrial output (p), retail sales, Tokyo CPI and

unemployment figures due, ahead of the extended Golden Week holidays.

- The yen finished Thursday atop the G10 pile, with USD/JPY closing 56 pips

worse off. Despite some demand observed in early Asia-Pac trade, fresh USD/JPY

sales emerged post-Tokyo fix, allowing the rate to settle below Y112.00 into the

European morning. Broader risk aversion applied pressure to USD/JPY later in the

day, as U.S. earnings soured slightly, slowing the recent stock rally.

- The rate shrugged off the latest BoJ MonPol decision, as the Bank left its

MonPol settings unch. and extended its forward guidance re: extremely low

interest rates out to the end of Spring '20. Elsewhere, the Bank's initial FY21

core CPI estimate was 1.6%, shy of 2.0% target, as expected.

- On the downside, focus falls on the 200-DMA at Y111.50, followed by the

50-DMA, which kicks in at Y111.29. Bulls need to reclaim Y111.75, which

represents the up trendline support-turned-resistance from the Jan 3 flash crash

low, after the pair closed below on Thursday. Above here opens the Y112.00 mark.