USD/JPY trades flat at Y108.02 ahead.....>

DOLLAR-YEN: USD/JPY trades flat at Y108.02 ahead of the release of Japanese

unemployment data at the bottom of the hour. The final reading of Jibun Bank

m'fing PMI will be published an hour later.

- Thursday saw a sharp sell-off in USD/JPY as risk aversion took hold. The

initial downtick was driven by post-FOMC dollar weakness, but the slide

accelerated in the London morning as BBG reported that China doubts the

possibility of striking a long-term trade deal with the Trump administration,

while USD/JPY looked through U.S. Pres Trump's optimistic Twitter comments.

Subsequent recovery attempt failed as an MNI Chicago PMI print out of the U.S.

was particularly poor, while U.S. House approved the impeachment probe; the rate

extended its decline into the close.

- Bears look for a firm dip under the channel support at Y107.91 to open up the

50-DMA at Y107.69. Bulls keep an eye on the Y108.43-48 area, which hosts the YtD

mid-point & several daily peaks from earlier this month.

- The Nikkei reported that Japanese PM Abe will call for stimulus measures to

alleviate damage to the economy caused by a string of natural disasters.