USD/JPY pushed higher yesterday, as......>

DOLLAR-YEN: USD/JPY pushed higher yesterday, as broader risk sentiment improved,

while the yen took a hit as the BoJ announced it will hold an unscheduled

monetary policy meeting on Friday. MNI understands that the meeting has been

called only to agree and unveil a new lending facility for smaller companies.

The rate trimmed gains later in the day, on the back of previously documented

question marks surrounding Moderna's recent trial of a Covid-19 vaccine.

- The rate has inched higher, with U.S. equity index futures moving into

positive territory. USD/JPY has added 14 pips so far and last trades at Y107.85.

The rate peeked above Apr 16 & 17 highs of Y108.08 yesterday, topping out at

Y108.09, and bulls look for a move above there. The 38.2% retracement of the Mar

24 - May 6 decline at Y108.18 adds importance to this region. Above there opens

Apr 10 high of Y108.59. Bears keep an eye on yesterday's low of Y107.30,

followed by May 13 low of Y106.74.

- The Nikkei reported that Japan looks to inject Y50bn in capital to SMEs.

- Data-wise, Japan reports machine orders (today), trade balance & Jibun Bank

M'fing PMI (Thursday), as well as national CPI (Friday).