A quiet start for USD/JPY, which.........>

DOLLAR-YEN: A quiet start for USD/JPY, which trades a handful of pips softer at

Y113.13 last, sticking to a tight, 10-tick range in early dealing this week.

- There was little in the way of notable upside pressure for the rate in the

wake of Friday's strong U.S. labour market report & rise in U.S. Tsy yields, as

Wall St. finished the session lower.

- That being said, the close above Y113.00 will have pleased bulls, who now look

to the Oct 31 high at Y113.39, ahead of the Oct 8 high at Y113.94. On the

downside, a close below the 21-DMA of Y112.55 would return the outlook to

neutral and allow bears to target broken trendline resistance-turned-support at

Y112.30.

- Focus today turns to BoJ Rinban operations covering 10-25+ Year JGBs and a

speech from BoJ Gov. Kuroda.