USD/JPY added 25 pips overnight and......>

DOLLAR-YEN: USD/JPY added 25 pips overnight and last sits at Y109.75, as the

Nikkei 225 finished ~0.5% higher, with a late uptick in the index adding some

extra weight to the yen, while the greenback landed atop the G10 leaderboard. 

- A clean breach of Friday's high at Y109.58 allowed bulls to shift their focus

to the key Y110.00 level, which represents the Jan 23 YTD peak. The next layer

of resistance above is provided by the upper Bollinger band (2%) at Y110.18.

Conversely, bears eye the nearby 50% fibo retracement of the move from Y114.55

to Y104.87 at Y109.71 before challenging the 200-HMA at Y109.37. 

- Japanese trade balance (BoP basis) comes out Friday, while usual BoJ Rinban

ops will also attract interest.