USD/JPY lost altitude yesterday after....>

DOLLAR-YEN: USD/JPY lost altitude yesterday after the BoJ scrapped the limits on

JGB purchases, tweaked its forward guidance, pointed to increased JGB & Bill

purchases and announced larger than expected corporate bond/commercial paper

purchase limits. The rate trimmed losses as U.S. equity benchmarks opened higher

and climbed through the rest of the day.

- USD/JPY trades flat at Y107.25. Apr 15/1 lows of Y106.93/92 provide the

initial bearish target and a fall below there would open the 50% retracement of

the Mar 9 - 24 rally at Y106.45. Bulls look for a jump above Apr 16 & 17 highs

of Y108.08, towards Apr 6 high of Y109.38.

- Looking ahead, Japan's data docket this week features unemployment (today),

retail sales & flash industrial output (Wednesday), as well as Tokyo CPI & final

Jibun Bank M'fing PMI (Friday). On Wednesday, Japan observes the Showa Day.