USD/JPY was limited by a sell off in.....>

DOLLAR-YEN: USD/JPY was limited by a sell off in the JPY crosses on Thursday,

amid geopolitical, trade & EM worry, with EUR/JPY breaching cloud base support.

- USD/JPY's major up trendline support at Y111.17 provides immediate resistance,

while the 55-DMA, currently at 110.73, remains the key support area on a closing

basis. A break through here is required to shift the focus firmly lower to the

200-DMA at Y109.99 and the Ichimoku cloud top at Y109.76. Bulls need to regain

Y111.87 to stabilise the near-term outlook.

- Focus now falls on Japanese GDP, due today, as well as the BoJ's latest round

of Rinban operations covering 1-5 and 10-25+ Year paper. It is also worth

keeping an eye on the U.S.-Japan trade talks. Japanese Economy Minister Motegi

has noted that the first day of talks were frank, but deepened the mutual

understanding between the 2 countries.