USD/JPY tumbled Tuesday with the.........>

DOLLAR-YEN: USD/JPY tumbled Tuesday with the Covid-19 epidemic still front and

centre, as the virus continues to spread across the globe. Although the rate

ticked higher initially, it shed gains through the rest of the Asia-Pac session

and extended its slide into Europe. Softer than expected U.S. consumer

confidence data inspired another round of sales into the WMR fix.

- Sharp market moves inspired by the epidemic resulted in an unscheduled meeting

between top BoJ, MoF & FSA officials, but subsequent comments from Japanese MoF

yielded little in the way of surprises. Elsewhere, Japanese health off'l said

that the country is "at the crossroads" re: coronavirus as "local transmission

is already going on."

- The rate has crept 6 pips higher, last sits at Y110.26 but Tuesday's low

remains in sight. A break below that level (Y109.89) would see bears set their

sights on trendline support at Y109.77. Meanwhile, a rebound above Y111.04,

which capped gains Tuesday, would bring bulls some reprieve.

- Looking further afield, we have Japanese industrial output, unemployment,

retail sales & Tokyo CPI coming up on Friday.