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The yen has softened alongside the.......>

DOLLAR-YEN: The yen has softened alongside the broader safe haven FX,under
pressure from the trade truce struck by the U.S. and China during the G20
summit. Although the Trump-Xi meeting brought no huge breakthroughs, both
countries are poised to restart their bilateral trade negotiations, among
- USD/JPY last trades at Y108.33, 48 pips above Friday's close. Bulls look for a
break above the cloud Kijun Sen at Y108.36, followed by the Jun 11 high of
Y108.80. Bears need a fall through the 21-DMA, which kicks in at Y108.08, before
challenging the Cloud Tenkan Sen at Y107.73.
- This comes after the rate added 6 pips Friday, with the yen struggling on the
back of optimism re: global trade.
- The Nikkei reported that Japan will restrict tech exports to South Korea over
differences re: wartime labour.
- Japanese focus turns to the results of the Tankan Survey, Jibun Bank m'fing
PMI (f) and consumer confidence index due later today. BoJ's Funo is set to
speak on Wednesday.

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