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An improving USD picture overnight on the.......>

YEN
YEN: An improving USD picture overnight on the back of Australian politics,
initially spilled over into Europe. USDJPY extended gains to Y110.93, before
stalling ahead of resistance from the 55-dma. Bulls need a break and hold above
Y111.00 for the next leg higher to challenge the daily cloud top and 50%
retracement area at Y111.38/48. EURJPY tracked the move and comfortably holds
above Y128.00, next resistance at Y128.31/45 (Cloud base, 50% Y131.99-124.91).
Euro area PMI's the next main focus.

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