USD/JPY trades at Y111.05 after a look...>

DOLLAR-YEN: USD/JPY trades at Y111.05 after a look below the figure in early

Asia-Pacific trade, with worry re: U.S. Fed Chair Powell & liquidity matters

outlined in earlier bullets. Rate regained some composure as U.S. equity index

futures failed to sell off dramatically at the re-open. Little in the way of

headline flow apparent with Japan closed for a market holiday. Worth noting that

Friday saw the WSJ report that "the Trump admin laid out its objectives in

coming trade talks with Japan, aiming to carve out a deal ensuring greater

access for a broad range of American products from autos to agriculture.. the

U.S. Trade Rep's Office said that it would seek measures blocking Japan from

manipulating its currency to give its exporters an advantage over U.S. rivals."

- Bears look for a clean break below the 200-DMA at Y110.92 (the current

intraday low) to allow them to target the December 20 low at (Y110.81). Bulls

look for a move the December 20 high at Y112.60. 

- Japanese labour mkt data, industrial production & retail sales all due on Fri,

with BoJ Gov. Kuroda set to speak Weds. The minutes from the BoJ's Oct policy

meeting are due Tues, with the Summary of opinions from the Dec meeting due Fri.