USD/JPY - 134.81

Despite dollar's fall from 135.57 last Monday to retrace early rise from August's 7-week 130.41 bottom to 131.74 on last Thursday, subsequent bounce to 133.89 and yesterday's cross-inspired rally to 134.68, then present break there in tandem with U.S. yields signals recent upmove would extend towards 135.30.

On the downside, only a daily close below 133.89/92 would prolong choppy swings and risk weakness to 133.54/59.

Data to be released on Wednesday

U.K. CPI, RPI, PPI input prices, PPI output prices, EU employment, GDP.
U.S. MBA mortgage application, retail sales and business inventories.

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