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EURJPY TECHS

Corrective Pullback

US EURODLR OPTIONS

Light Upside Call Spds

USDJPY TECHS

Dips Considered Corrective

EURGBP TECHS

Trend Signals Remain Bearish

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Tokyo returns to market on Tuesday after the elongated weekend on the back of the observance of a national holiday (note that Japanese markets will also be closed on Thursday, owing to a holiday). You would expect the space to open bid given the risk-off moves that were in play on Monday surrounding Evergrande.

  • Taro Kono continues to lead the opinion polls when it comes to the public's favourite to become the next leader of the ruling LDP Party (with a near 40ppt lead in the latest Sankei/FNN poll).
  • Final machine tool orders data and the latest liquidity enhancement auction for off-the-run 1- to 5-Year JGBs headline the local docket on Tuesday. Note that the BoJ will issue its latest monetary policy decision on Wednesday, with no changes foreseen.