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JGBs edge higher but caution before US jobs data caps gains

TOKYO, July 5 (Reuters) - Japanese government bond prices edged up on Friday, following a rally by their European counterparts but the gains were limited due to caution before the closely watched U.S. jobs report release later in the day.

The benchmark 10-year JGB yield dipped half a basis point to minus 0.165%. The 30-year yield also declined half a basis point, to 0.340%.

Long-term euro zone bond yields fell to record lows this week as investors braced for the possibility of the European Central Bank easing monetary policy.

The immediate market focus was on whether Friday's U.S. jobs report will help make or break the case for a rate cut by the Federal Reserve later in July.

Economists polled by Reuters are predicting U.S. non-farm payrolls to have increased by 160,000 in June from 75,000 in May. (Reporting by the Tokyo markets team; Editing by Rashmi Aich)