USD/JPY last trades at Y108.35, 3 pips...>

DOLLAR-YEN: USD/JPY last trades at Y108.35, 3 pips lower on the day, with the

Nikkei 225 pointing to a marginally higher open.

- Japanese Trade Min Motegi emerged from a meeting with U.S. TR Lighthizer

stating that the two sides deepened understanding of each other's position, but

he declined to disclose any details. Motegi said that he will probably meet with

Lighthizer again before the G20 summit.

- The pair dived in yesterday's Asia-Pac hours after the release of

disappointing Australian jobs data dented risk sentiment. Recovery through the

European session, noted as risk-off faded, allowed the rate to touch its

previous high at Y108.54 around the WMR fix, before easing off.

- Bears look for a clean break below the cloud Tenkan Sen at Y108.31 before

challenging the uptrend support at Y108.01. Bulls eye the 100-HMA at Y108.40 and

above here would allow them to target the Jun 11 monthly peak at Y108.80.

- Japanese industrial output (f) & BoJ Rinban ops take focus today. Highlights

of next week include trade balance due Weds, BoJ MonPol decision due Thurs, as

well as CPI & m'fing PMI (p) due Fri, while BoJ's Eto will speak on Weds.