USD/JPY last deals at Y108.22,...........>

DOLLAR-YEN: USD/JPY last deals at Y108.22, marginally higher on the day. As a

reminder, Japanese markets are shut for a national holiday today.

- A recovery in risk sentiment put JPY on the defensive Friday, rendering it the

worst G10 performer at the end of the day. A modest round of USD/JPY sales in

Asia hours was countered by the subsequent release of a better than exp. Chinese

Caixin m'fing PMI. That said, the rate was range-bound ahead of the release of a

strong U.S. NFP report, which sent USD/JPY to fresh daily highs. The rate eased

off, partially thanks to an underwhelming ISM m'fing survey out of the U.S., but

regained poise into the close amid a positive showing from U.S. equity markets.

- A break above Y108.47/48, which registered several peaks through Sep & Oct,

would shift focus to the Oct 17 high of Y108.94. On the downside, the focus

remains on the channel support, which today intersects at Y107.98. The rate

tested the level on Friday, but failed to make headway beyond the channel. A

break here would open the 50-DMA at Y107.73.

- Coming up this week are the minutes from the BoJ's Sep MonPol meeting, due

Wednesday, as well as Japanese earnings/spending figures, due Friday.