• Demand for the safe-haven yen eased early on Wednesday as global stocks steadied from a rout and some calm returned to markets
  
  
• Encouraging improvement in U.S. consumer sentiment and euro zone economic sentiment helping soothe markets
  
  
• Yen showed limited reaction to unexpected fall in Japan's industrial output in August, USD/JPY range bound in the Asian session, with day's highs at 120.03 and lows at 119.69
  
  
• U.S. nonfarm payrolls due on Friday could help strengthen, or weaken, the case for a 2015 lift-off and set the tone for the dollar
  
  
• Markets will also watch Yellen's remarks at a conference at 1900 GMT Wednesday, no Q&A session is planned
  
  
• USD/JPY depreciation ahead of the 2nd Oct BoJ meet could be limited as market expectations for BOJ easing have risen following weaker economic fundamentals, a decline in USD/JPY and equity prices
  
  
• Daily Cloud is now above at 120.54-72, price action remains well below the cloud 
  
  
• USD/JPY is currently trading at 119.95, with immediate resistance at 120.08 (converged Kijun and 20 DMA) and support at 119.68 (session lows 30 Sept)