* Fin Min Fujii: concerned over rising long-term yields

* 10-year yield pulls back from 5-month highs after Fujii

* 40-year sale goes well, steepening pressure eases

* Japan sovereign CDS spread continues to widen

By Shinichi Saoshiro

TOKYO, Nov 10 (Reuters) - Japanese government bond futures edged up on Tuesday and the benchmark 10-year yield pulled back from a five-month high as the market breathed a sigh of relief after Japan's finance minister said he was worried about rising long-term yields.

Steepening pressure on the yield curve eased a little after an auction of 40-year JGBs drew stronger investor demand than expected.

"Selling in futures by foreign funds receded, helping the bond market take a breather. Such attempts appear to have been foiled several times as the yen remains strong," said Genji Tsukatani, head of fixed-income management at asset manager Schroders.

A stronger yen can favour bonds because it reduces the cost of imported goods, which in turn fans prospects of deepening deflation.