USD/JPY last trades at Y112.00,..........>

DOLLAR-YEN: USD/JPY last trades at Y112.00, unchanged on the day, ahead of the

release of Japanese trade balance data in 10 minutes' time. Japanese industrial

output comes out later today.

- The pair ebbed lower through yesterday's Asia-Pac session, with losses limited

by a positive showing from regional equities. Further equity gains registered in

Europe and the U.S. eventually forced the pair to recover most of its earlier

losses. Worth noting USD/JPY traded in a 20 pip range yesterday.

- Japanese Trade Min Motegi held meetings with his U.S. counterpart Lighthizer

on Monday and Tuesday, as Tokyo & Washington have opened bilateral trade talks.

In early Asia-Pac hours today, Motegi noted that agreement has not been reached

yet, but negotiations will continue next week. Motegi added that FX issues will

be discussed by respective Finance Ministers.

- After several failed attempts to test the Mar 5 YTD high of Y112.14 observed

this week, bulls keep targeting the level. On the downside, bears look for a

decline through the 100-HMA at Y111.79.

- On Friday, Japanese focus will fall on national CPI data.