EUR/JPY last Y127.69, within a 30 pip......>

EURO-YEN: EUR/JPY last Y127.69, within a 30 pip range thus far and trades

roughly unchanged on the day. 

- The rate has faced pressure from increasing political tensions in Europe &

underperforming Asia-Pac equities with the Nikkei 225 posting ~3.3% losses on

the day. 

- This comes after the pair slipped nearly 130 pips yesterday, as difficult

Brexit negotiations and Italy's conflict with the EU over its fiscal plan

continued to weigh on the euro, while JPY garnered some strength from general

risk off theme throughout the European & U.S. trade. 

- Bears eye the Nov 1 lows of Y127.67 and a break below would shift their focus

to the 76.4% fibo retracement of the move from Y126.64 to 130.15 at Y127.46.

Conversely, initial bullish target falls on the psychologically significant

Y128.00 level, ahead of the 100-DMA at Y129.51.