AUSSIE-YEN: AUD/JPY has extended yesterday's.........>

AUSSIE-YEN: AUD/JPY has extended yesterday's losses this morning as wider

defensive feel remains, with U.S. equity index futures trading on a softer

footing. The rate has shed 21 pips so far, dropping onto its 50-DMA at Y67.59.

It sits at Y67.72 at typing, with bears hoping for a clean break of the 50-DMA,

which would allow them to take aim at Apr 21 low of Y67.29. A dip under that

level is needed to turn the tide bearish. Meanwhile, a rebound above Apr 30 high

of Y70.17 would reinstate the bullish theme.

- Japan returns from Golden Week holidays today and regional calendar is pretty

heavy. Australian trade balance and foreign reserves are due, while China's

Caixin Services/Composite PMIs & trade balance will also be under the

microscope.