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USD/JPY last seen at Y108.54, almost.....>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY last seen at Y108.54, almost unchanged on the day, after
adding 18 pips Friday.
- The rate edged lower into Friday's European morning, amid broader risk-off
flows, before picking up a bid on the back of solid U.S. economic data (with
decent revisions in retail sales overshadowing a narrow miss in headline
number). Resistance was met at Y108.50 initially, but persistent USD demand
dragged the rate through the figure and kept it buoyed into the close.
- Following a bullish inside day, topside attention turns to the Jun 11 high of
Y108.80 and above here opens the May 13 low/21-DMA at Y109.02/05. Meanwhile,
bears look for a fall through the 100-HMA/200-HMA, which come in at Y108.45/39
before targeting the cloud Tenkan Sen at Y108.31. Below here opens the uptrend
support at Y108.04.
- Japanese trade balance data will be published on Wednesday, ahead of BoJ
MonPol decision due Thursday, with CPI & m'fing PMI (p) due Friday. BoJ's Eto
will speak on Wednesday.

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