USD/JPY had a brief look below...........>

DOLLAR-YEN: USD/JPY had a brief look below Friday's low in early trade, printing

at Y110.30, but last trades back around unchanged levels circa Y110.45. A

broader uptick in risk appetite has somewhat expectedly capped the yen.

- BOJ Governor Kuroda took to the wires in early dealing and maintained his

optimistic growth and inflation outlook for Japan's economy, while highlighting

that the most recent survey conducted by the Bank showed that business sentiment

was hit by rising costs and uncertainty over the impact of U.S. trade disputes

on global demand.

- Topside hesitation in the pair is a concern, with Y111.39-112.04 where the May

highs are noted remaining key. Bears now need a close below Y110.13 (200-DMA) to

gain breathing room and below Y109.90 (55-DMA) to confirm a break of Y110.27

(bull channel base off 2018 lows).