EUR/JPY advanced 28 pips yesterday,........>

EURO-YEN: EUR/JPY advanced 28 pips yesterday, breaking above the Y129.00 level,

but has ebbed lower in today's Asia-Pacific trade. The rate last sits at

Y128.91, 15 pips lower on the day, after the Nikkei opened on the back foot,

with U.S. equity index futures also in the red, and a modest risk off tone

apparent over the last hour or so. 

- The rate showed muted reaction to the BoJ Tankan survey. 

- Bears eye the 50-DMA at Y128.82 and a fall through that level would open up

yesterday's low at Y128.71, followed by the 21-DMA at Y128.63. On the topside,

bulls need to jump back onto the Y129.00 figure before targeting the 55-DMA at

Y129.05. A break above the latter level would open up Y129.20 representing the

100-DMA.