JGB futures edge up on Nikkei fall, US data awaited

By Rika Otsuka

TOKYO, April 4 (Reuters) - Japanese government bond futures edged up on Friday after five straight days of declines, as investors took cues from a fall in Tokyo stocks and an overnight rise in long-term U.S. Treasuries.

But gains were limited as many players retreated to the sidelines, awaiting an important U.S. employment report due later in the day for clues on the state of the world's biggest economy and the Federal Reserve's future monetary policy path.

"Government debt is unlikely to extend its rise as JGB futures continue to look expensive and are due for more correction," said Katsutoshi Inadome, fixed-income strategist at Mitsubishi UFJ Securities.

June 10-year futures edged up 0.06 point to 139.54 2JGBv1.

The lead futures contract hit a five-year high of 141.91 on March 19, up more than 5 points from last year's close, as the global market turmoil prompted investors to seek the safety of government debt.

Futures then started to fall due to a wave of profit-taking.

The benchmark 10-year JGB yield slipped 1 basis point to 1.350 percent <JP10YTN=JBTC>, sliding from a one-month high of 1.380 percent first struck on Wednesday.

The 10-year yield has hovered in a range between a three-year low of 1.215 percent and 1.390 percent over the past month.