USD/JPY last trades at Y108.20, little...>

DOLLAR-YEN: USD/JPY last trades at Y108.20, little changed on the day after

dropping almost 60 pips yesterday amidst broader dollar weakness induced by the

FOMC meeting minutes & comments from various Fed members striking a cautious

note. Fed's Bostic said that "the next rate move could be up or down" and

Rosengren followed suit, while Evans cited lack of evident inflationary

pressures. This allowed USD/JPY to briefly look below the reported support at

Y108.00. 

- Bears eye a break of yesterday's low of Y107.97 before attempting a move to

the Jan 4 low of Y107.52, while bulls look to yesterday's peak at Y109.00,

hoping for a break above, which would open up the Jan 2 high of Y109.73. 

- Japanese trade balance (BoP basis) hits tomorrow. Otherwise the Japanese

docket is rather dry.