EUR/JPY has registered an uptick and.......>

EURO-YEN: EUR/JPY has registered an uptick and trades at Y129.26, just below

yesterday's highs of Y129.33. 

- On Monday EUR/JPY bounced from session lows at Y128.61 after the EU denied

Politico reports that it was to propose "disciplining" Italy re: fiscal matters

on Nov 21. The report had pressured EUR earlier in the day. 

- The rate garnered further support after a source report suggested Italian

FinMin Tria is ready to work for a compromise with the EU Commission, before EZ

FinMins called on Italy to revise its fiscal plans, which was rebuked by Rome,

limiting the rate later in the day 

- JPY was also pressured by outperforming U.S. equities (ex-NASDAQ) on Monday. 

- Bulls need to retake yesterday's high before challenging the 100-DMA, 38.2%

fibo of 2018 range & long-term pivotal resistance, all in the Y129.45-60 area.

On the downside, initial focus falls on yesterday's low. A break below would

open up the Nov 2 low at Y128.38.