USD/JPY last sits at Y113.00, after......>

DOLLAR-YEN: USD/JPY last sits at Y113.00, after advancing 42 pips Wednesday. 

- Today, the rate moved 20 pips lower thus far on the back of a sharp move lower

in U.S. equity index futures noted from the re-open with CME intervening with 10

second pauses to prevent harder fall in equity futures. Some think stocks were

hit by the news that a Huawei executive has been detained in Canada owing to

breaches of Iranian sanctions with the U.S. seeking her extradition, but it is

worth noting that the arrest took place on Saturday, before the Trump-Xi dinner.

The Nikkei 225 is also posting early losses. 

- With the rate gyrating around the key Y113.00 level, bulls need a break above

Wednesday's intraday high at Y113.23 before targeting the 61.8% fibo retracement

of the move from Y113.85 to Y112.58 at Y113.36. Meanwhile, bears look to a fall

through the 200-WMA at Y112.94 before challenging the cloud top at Y112.67.