USD/JPY last trades flattish at..........>

DOLLAR-YEN: USD/JPY last trades flattish at Y107.19.

- This comes after equity sell-off observed in Asia-Pac hours yesterday allowed

the rate to touch a fresh cycle low of Y106.78.

- European hours brought several forays back above Y107.00, but none of these

recovery attempts proved sustainable.

- Only comments from Fed's Bullard & Powell managed to breathe life into price

action. Their remarks struck less dovish notes than many expected, sending the

rate firmly through the Y107.00 mark.

- Nonetheless, a late doors downtick allowed the pair to close in negative

territory as RTRS reported that the U.S. would not accept conditions on tariffs

as part of reopening trade negotiations with China & that no deal is expected to

emerge from the G-20.

- Bears now look for a dip through Y107.00 before challenging yesterday's

low/lower 1.0% 10-DMA envelope located at Y106.78/76. Bulls need to clear the

100-HMA at Y107.35 before targeting the cloud Tenkan Sen at Y107.75.