USD/JPY was offered Monday amid..........>

DOLLAR-YEN: USD/JPY was offered Monday amid broader USD sales, even as U.S.

equity benchmarks firmed up. It staged an attack at its 200- & 100-DMAs, but

failed to establish itself below there and closed right at the 200-DMA. The rate

now hovers just above Monday's lows as we type, last sitting -4 pips at Y108.39.

- Bilateral trade talks between Japan and the UK kick off today. Trade Mins

Motegi & Truss will try to hammer out a deal for the post-Brexit trade

relationship between their countries.

- A fall below the 100-DMA at Y108.27 would shift focus to May 19 high of

Y108.09, a former breakout level. Bulls need a clearance of Jun 5 high of

Y109.85 before taking aim at the round figure of Y110.00.

- Focus turns to today's earnings data and Thursday's core machine orders.