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USD/JPY trades 33 pips lower, last.......>

DOLLAR-YEN: USD/JPY trades 33 pips lower, last dealing at Y108.19, as USD sits
at the bottom of the G10 pile. The yen also struggled in early Asia-Pac trade,
but recovered as regional equities pulled back from best levels. 
- Bears look to the reported support at Y108.00, after posting a low of Y108.02
overnight, and a fall below would open up Y107.52, where the rate bottomed
Friday. Conversely, initial bullish focus falls on reported resistance at
Y108.80, followed by the Jan 3 high & 61.8% fibo retracement of the move from
Y111.41 to Y104.87 at Y108.92. 
- Japanese highlights this week include trade balance (BoP basis) due Friday, as
well as the usual BoJ Rinban ops.

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