A brief bout of JPY strength around the Tokyo...>

YEN: A brief bout of JPY strength around the Tokyo fix saw the JPY crosses push

to session lows, although the move was seemingly fix related and lacked any

fundamental catalysts, with USDJPY now trading unchanged at 109.40, EURJPY at

130.30 & AUDJPY trading at 82.35.

- Yet another rejection ahead of USDJPY's 200-DMA (110.18) and 55-WMA (110.48)

is a concern for bulls & leaves. Bears now need a close below the April 24 low &

100-DMA (108.53). Bulls continue to look for a close above the 55-WMA to confirm

initial focus on Y111.22-98 and overall focus to tests of 2018 highs.

- EURJPY bulls take comfort in support around the 200-WMA (129.22) when combined

with daily studies looking to correct from very oversold levels. Bears continue

to look for a close below 2018 lows (128.94). Bulls now look for a close above

yesterday's high (130.75) to gain breathing room.

- AUDJPY bulls take comfort in the close above the May 09 high (82.00) which now

provides initial support. The move has bought bulls some breathing room with a

close above the 21-DMA (82.54) now needed to shift focus higher. Daily studies

are well placed for a fresh leg higher.