BOJ: Continued global stock market fragility may prompt the Bank of Japan to focus more on the risk that Japan's economy may deviate downward from its baseline recovery scenario at the July policy meeting when it presents an update to the BOJ's semi-annual Outlook Report. See MNI's exclusive BOJ analysis on the Main Wire published at 2100 ET.

May 26 / 20:53 EDT

DOLLAR-YEN TECHS: Downmove to Y89.40 seen RES 3 Y91.30 50% r of Y93.65-88.95RES 2 Y90.75 Monday's high in AustraliaRES 1 Y90.37 Hourly chart CURRENT LEVEL: Y90.04SUP 1 Y89.26 Tuesday's lowSUP 2 Y88.95 Last Thursday's lowSUP 3 Y88.27 61.8% proj. of Y92.97-88.95 fm Y90.75 COMMENTARY: Intraday downside bias remains for weakness to Y89.40 but only firm breach of this week's low at Y89.26 signals recent decline from Y93.65 has resumed, re-test of Y88.95 to follow, then Y88.27, being 61.8% proj. of intermediate fall from Y92.97 to Y88.95 measured from Y90.75. Only above Y90.75 risks stronger correction to Y91.30 (50% of Y93.65-88.95). Website: www.trendsetterfx.com.

May 26 / 20:36 EDT

EURO-YEN TECHS: Consolidation likely on recovery above Y110.50/60 RES 3 Y110.90RES 2 Y110.50RES 1 Y109.89CURRENT LEVEL: Y109.79SUP 1 Y108.83SUP 2 Y108.36SUP 3 Y107.44COMMENTARY: Cross has fallen again after yesterday's initial rise to Y111.95, suggesting recent downtrend to re-test this week's low of Y108.83, but N-T loss of momentum likely to limit weakness to Y108.30/40, for correction. Only above Y110.50/60 prolongs consolidation, risks Y110.90/00. Website: www.trendsetterfx.com.

May 26 / 20:28 EDT

ASIA PRESS: The Government of Singapore Investment Corporation's property investment arm, GIC Real Estate (GIC RE), may list its China and Japan assets in the form of a real estate investment trust (Reit), The Straits Times reports. It is not known how much such an IPO could raise, but if it proceeds, it is likely to include assets in China and Japan that GIC RE bought from ProLogis for $1.3 billion in late 2008, the report says.