USDJPY garnered an early bid as US.......>

DOLLAR-YEN: USDJPY garnered an early bid as US President Trump reeled off a

batch of upbeat tweets re: North Korea, which allowed the pair to tick higher

after it managed to close above its 200-DMA for the first time since mid-May.

- The pair last deals at 110.65, just shy of hourly support from May 22

(110.72). Through that level the next key resistance point is noted at the May

22 high (111.18).

- Some, including Nomura, are focused on tomorrow's Rinban operations, which

will cover the 1-5 & 10-25+ Year buckets, suggesting that the BoJ may alter the

size of its purchases in some of these tenors. As a reminder the most recent

alteration came nearly 2 weeks ago, when the BoJ trimmed the size of its

purchases in the 5-10 Year bucket.

- The BoJ's MonPol meeting concludes on Friday, no change is expected, with

focus set to fall on BoJ Gov. Kuroda's post-meeting press conference. Some have

suggested that the BoJ may downgrade its inflation forecasts to a view more

inline with private economists.