USD/JPY last seen at Y108.47, nearly.....>

DOLLAR-YEN: USD/JPY last seen at Y108.47, nearly unchanged on the day.

- The rate sank from off on Thursday as USD weakness inspired by dovish Fedspeak

carried over into the Asia-Pac session. The dip ground to a halt at Y107.86,

that is within the Y107.88-82 area which registered a series of lows in early

Jun. What followed was a slight recovery into the European morning. Gains were

then extended thanks to a better than expected core & headline CPI readings out

of the U.S. and USD/JPY finished marginally higher.

- Even yesterday's slide failed to take the pair below its key trendline

support, which helps the bullish case. The next target above is at the Jun 11

high of Y108.80, ahead of the Y109.00 figure. Bears look for a break below the

200-HMA/cloud Tenkan Sen at Y108.28/26, which would expose the Y108.00 mark.

- Yonhap reported that the U.S. has offered high-level trade talks involving

South Korea and Japan amid their bilateral row over trade & historical matters.

- Final Japanese industrial output, as well as 1-5 & 10-25+ Year BoJ Rinban ops

are expected today. Focus next week will turn to trade balance and national CPI,

due Thursday and Friday respectively. Also, Japan's off for a holiday on Monday.