USD/JPY last trades at Y111.13, a........>

DOLLAR-YEN: USD/JPY last trades at Y111.13, a touch lower on the day, after

closing ~40 pips lower Friday.

- Friday's Asia-Pacific session saw the pair slide over 50 pips on the back of

broader risk-off flows. There was no immediate reaction noted upon the upward

revision to Japanese Q4 GDP (both on a quarterly and annualised basis), while

January's c/a balance was wider than exp., and the latest trade deficit was

narrower than exp. trade deficit. These releases may have provided a degree of

support to JPY through the session.

- The rate then briefly breached the Y111.00 mark, as it spiked lower on the

back of a particularly weak headline nonfarm payroll print, but it gradually

recovered from worst levels.

- Bears look for a break below the 21-DMA at Y110.96, ahead of the 100-WMA,

located at Y110.82. Conversely, bulls look to Y111.25, which represents the

cloud Tenkan Sen, followed by the 100-DMA at Y111.36.

- The BoJ is set to deliver its MonPol decision on Friday. Elsewhere, focus

turns to domestic PPI, core machine orders and BoJ Rinban ops due Wednesday.