USD/JPY has advanced ~10 pips and last...>

DOLLAR-YEN: USD/JPY has advanced ~10 pips and last sits at Y110.77, with JPY

pressured by modest risk-on flows observed in the FX space on the back of U.S.

Pres Trump's optimistic comments re: Sino-U.S. trade relations. The Nikkei 225

points to a higher open at writing.

- The rate closed virtually unchanged on Friday after it touched intraday highs

of Y110.91 but again failed to trouble the Y111.00 level which has proved hard

to overcome in recent sessions.

- The initial bullish target is provided by the Y111.00 figure, followed by the

Feb 14 YTD high of Y111.13. A break above would bring the 200-DMA at Y111.31

into play. Conversely, bears need a fall through the cloud Tenkan Sen at Y110.70

before attempting a move at the 55-DMA, located at Y110.23.

- Later in the week, focus turns to industrial output due Thursday, as well as

labour mkt data, Tokyo CPI & Nikkei m'fing PMI due Friday. Elsewhere, BoJ's

Kataoka speaks on Thursday, while BoJ's Suzuki speaks on Friday.