USDJPY has added 25 pips or so to........>

DOLLAR-YEN: USDJPY has added 25 pips or so to trade at 109.65 last, back from

the 109.83 highs. The cross was supported by the broader risk on flows as the

June 12 US-North Korea summit seems a more likely proposition than it did 48

hours ago, with Trump seemingly a little more upbeat on the matter in comments

made over the weekend. Also the Italian President has blocked the formation of

the M5S/League government as a euro-sceptic was proposed as the economy

minister, which will likely send Italy back to the polling booths.

- Losses defined last week adding weight to the case for a correction back to

107.85-108.53 where the 21-WMA (Y108.16) and 55 & 100-DMAs (108.02-23) are

situated. Bulls need a close above the 21-DMA (109.82), which capped the earlier

rally, to gain breathing room.