Wednesday saw USD/JPY round trip from....>

DOLLAR-YEN: Wednesday saw USD/JPY round trip from its intraday low of Y109.16

and finish virtually unch. on the day.

- The pair oscillated within an 18 pip range through Wednesday's Asia-Pac

session, as risk appetite struggled for clear direction. Having met resistance

at Y109.70 into the European morning, it slid smoothly with the move aided by

disappointing industrial output and retail sales numbers out of the U.S.

- The pair shot higher pre-WMR fix, re-testing Y109.70 on the back of a BBG

report stating that U.S. Pres Trump is to delay plans to impose tariffs on

automobile imports by up to six months to avoid undermining trade talks with the

EU and Japan. Momentum waned towards the close and the rate ebbed off of highs.

- USD/JPY last seen at Y109.56, a touch lower on the day. Above the

aforementioned Y109.70 level, which provided a layer of resistance on Wednesday,

would open up the Y110.00 mark. Meanwhile, bears target the lower 1.0% 10-DMA

envelope at Y109.06.

- Japanese PPI data takes focus today, while Friday's BoJ 10-25+ Year Rinban ops

will also be closely watched.