USD/JPY last Y112.60, 23 pips lower on...>

DOLLAR-YEN: USD/JPY last Y112.60, 23 pips lower on the day, but off of session

lows of Y112.47. The yen outperformed all of its G10 peers but the rallying NZD,

as it garnered support from souring risk appetite. Yesterday's U.S. equity rout

spilled over to the Asia-Pac session, as regional benchmark indices dropped,

with Nikkei 225 ~1.8% lower at writing. 

- Bears look for a break below the lower Bollinger band (2%) at Y112.47, which

would open up the 100-DMA at Y112.40, followed by the Dec 10 - Dec 6 lows of

Y112.24. Conversely, initial resistance is located at Y113.04 representing the

Dec 17 hourly high. A move through that level would allow bulls to target the

21-DMA at Y113.20. 

- BoJ is set to release its MonPol decision Thursday, while its Rinban ops will

also attract attention. Elsewhere, Japanese trade balance is due tomorrow and

inflation figures will be released Friday.