USD/JPY last deals at Y108.35, 10 pips...>

DOLLAR-YEN: USD/JPY last deals at Y108.35, 10 pips lower on the day. The yen has

been bid amid resurgent Brexit uncertainty.

- This comes after the rate closed 21 pips lower Friday. It respected the

previous day's range through the Asia-Pac session before easing off in European

hours. The move seemed to be driven primarily by a decline in greenback

strength, with DXY touching its lowest levels since Aug 9.

- BoJ Gov Kuroda praised a "significant improvement" in Japanese economy, noting

that for the first time in ~15 years it is no longer in deflation.

- Friday's move allowed the pair to recede under the previous bull trigger at

Y108.48. A further decline through Y108.00, a psychological level & 38.2%

retracement of this month's bull market, would strengthen the bearish case.

Meanwhile, a bounce above last Thursday's multi-month high of Y108.94 and the

200-DMA at Y109.08 would help reinstate some upside momentum.

- Japanese trade balance comes out later today. Looking further ahead, a flash

reading of Jibun Bank m'fing PMI is due on Thursday. As a reminder, on Tuesday

Japan observes a public holiday for the enthronement of Emperor Naruhito.